Analysts Set Diamondback Energy, Inc. (NASDAQ:FANG) Target Price at $215.00

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have earned an average rating of “Moderate Buy” from the twenty-three analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $215.17.

FANG has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Mizuho lowered their price objective on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, UBS Group upped their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th.

Institutional Investors Weigh In On Diamondback Energy

A number of institutional investors have recently made changes to their positions in FANG. Wintrust Investments LLC purchased a new stake in Diamondback Energy in the fourth quarter worth approximately $28,000. R Squared Ltd purchased a new stake in Diamondback Energy in the fourth quarter worth approximately $29,000. UMB Bank n.a. boosted its holdings in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc raised its position in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 188 shares during the period. Finally, Transce3nd LLC bought a new position in Diamondback Energy in the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $156.99 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $45.84 billion, a PE ratio of 8.99, a P/E/G ratio of 1.24 and a beta of 1.86. The firm has a fifty day simple moving average of $166.15 and a two-hundred day simple moving average of $177.70. Diamondback Energy has a twelve month low of $152.00 and a twelve month high of $214.50.

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.