Morgan Stanley Issues Positive Forecast for Diamondback Energy (NASDAQ:FANG) Stock Price

Diamondback Energy (NASDAQ:FANG) had its price target increased by Morgan Stanley from $220.00 to $227.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the oil and natural gas company’s stock.

Several other research analysts also recently weighed in on FANG. Truist Financial upped their target price on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised their target price on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Raymond James boosted their price target on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. UBS Group raised their price objective on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $216.52.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $160.26 on Wednesday. The company has a market cap of $46.79 billion, a P/E ratio of 9.17, a PEG ratio of 1.22 and a beta of 1.86. Diamondback Energy has a one year low of $152.00 and a one year high of $214.50. The business’s 50-day simple moving average is $165.82 and its 200 day simple moving average is $177.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in Diamondback Energy in the 4th quarter valued at approximately $29,000. UMB Bank n.a. raised its stake in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in Diamondback Energy during the 4th quarter worth $33,000. Finally, Key Financial Inc grew its stake in shares of 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 purchasing an additional 188 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Company Profile

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.