Diamondback Energy, Inc. (NASDAQ:FANG) Receives Average Rating of “Moderate Buy” from Analysts

Diamondback Energy, Inc. (NASDAQ:FANGGet Free Report) has been given a consensus rating of “Moderate Buy” by the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $176.12.

Several research firms have commented on FANG. Raymond James dropped their price objective on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Truist Financial lifted their price objective on Diamondback Energy from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Wells Fargo & Company decreased their price objective on Diamondback Energy from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Wednesday, November 22nd. KeyCorp decreased their price objective on Diamondback Energy from $183.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, January 11th. Finally, UBS Group decreased their price objective on Diamondback Energy from $198.00 to $183.00 and set a “buy” rating for the company in a report on Thursday, December 14th.

View Our Latest Analysis on FANG

Institutional Investors Weigh In On Diamondback Energy

A number of large investors have recently modified their holdings of the business. Westfield Capital Management Co. LP boosted its position in Diamondback Energy by 32.9% in the fourth quarter. Westfield Capital Management Co. LP now owns 351,914 shares of the oil and natural gas company’s stock valued at $54,575,000 after buying an additional 87,123 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Diamondback Energy by 4.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 51,164 shares of the oil and natural gas company’s stock valued at $7,935,000 after buying an additional 2,166 shares during the last quarter. Skopos Labs Inc. purchased a new stake in Diamondback Energy in the fourth quarter valued at approximately $433,000. Advisory Services Network LLC lifted its holdings in Diamondback Energy by 4.2% in the fourth quarter. Advisory Services Network LLC now owns 19,838 shares of the oil and natural gas company’s stock valued at $3,076,000 after acquiring an additional 800 shares during the period. Finally, Team Hewins LLC acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $214,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Diamondback Energy Trading Down 1.1 %

FANG stock opened at $151.74 on Friday. The firm has a fifty day moving average price of $153.32 and a 200 day moving average price of $154.15. Diamondback Energy has a fifty-two week low of $119.01 and a fifty-two week high of $171.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 0.89. The firm has a market cap of $27.16 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.38 and a beta of 1.89.

Diamondback Energy Company Profile

(Get Free Report

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.

Further Reading

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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