Truist Financial Issues Positive Forecast for Diamondback Energy (NASDAQ:FANG) Stock Price

Diamondback Energy (NASDAQ:FANG) had its price objective increased by Truist Financial from $236.00 to $238.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

A number of other equities research analysts have also commented on FANG. Benchmark reiterated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. The Goldman Sachs Group assumed coverage on Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target for the company. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research report on Friday, January 3rd. Piper Sandler lowered their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, UBS Group boosted their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus price target of $216.52.

Diamondback Energy Trading Up 2.2 %

Shares of FANG stock opened at $160.26 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business has a 50-day moving average of $165.82 and a 200 day moving average of $177.18. The stock has a market capitalization of $46.79 billion, a PE ratio of 9.17, a P/E/G ratio of 1.22 and a beta of 1.86. Diamondback Energy has a 1-year low of $152.00 and a 1-year high of $214.50.

Hedge Funds Weigh In On Diamondback Energy

Several institutional investors have recently made changes to their positions in FANG. Toronto Dominion Bank raised its position in Diamondback Energy by 3.9% in the fourth quarter. Toronto Dominion Bank now owns 66,346 shares of the oil and natural gas company’s stock worth $10,869,000 after acquiring an additional 2,468 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Diamondback Energy during the 4th quarter valued at about $17,152,000. Sunbelt Securities Inc. increased its holdings in Diamondback Energy by 34.2% in the 4th quarter. Sunbelt Securities Inc. now owns 4,342 shares of the oil and natural gas company’s stock worth $699,000 after acquiring an additional 1,107 shares in the last quarter. GTS Securities LLC raised its position in shares of Diamondback Energy by 111.4% during the 4th quarter. GTS Securities LLC now owns 7,920 shares of the oil and natural gas company’s stock valued at $1,298,000 after purchasing an additional 4,174 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new position in Diamondback Energy in the 4th quarter worth $33,000. Institutional investors own 90.01% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.