Mizuho Forecasts Strong Price Appreciation for Diamondback Energy (NASDAQ:FANG) Stock

Diamondback Energy (NASDAQ:FANG) had its price objective increased by equities research analysts at Mizuho from $201.00 to $204.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the oil and natural gas company’s stock. Mizuho’s target price suggests a potential upside of 33.83% from the company’s previous close.

Several other equities analysts have also issued reports on FANG. Wells Fargo & Company boosted their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. UBS Group boosted their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $216.09.

Diamondback Energy Price Performance

FANG opened at $152.43 on Tuesday. The company has a fifty day moving average price of $165.28 and a two-hundred day moving average price of $175.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy has a 52 week low of $151.00 and a 52 week high of $214.50. The firm has a market capitalization of $44.51 billion, a PE ratio of 8.73, a P/E/G ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. As a group, analysts anticipate that Diamondback Energy will post 15.49 earnings per share for the current year.

Hedge Funds Weigh In On Diamondback Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB lifted its stake in Diamondback Energy by 28.0% in the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after purchasing an additional 43,361 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Diamondback Energy by 631.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after acquiring an additional 37,246 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after acquiring an additional 47,951 shares during the last quarter. Tectonic Advisors LLC raised its stake in shares of Diamondback Energy by 38.2% during the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after acquiring an additional 8,704 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its stake in shares of Diamondback Energy by 368.1% during the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after acquiring an additional 7,694 shares during the last quarter. 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.