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

Diamondback Energy (NASDAQ:FANG) had its target price increased by UBS Group from $212.00 to $216.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

FANG has been the topic of a number of other reports. Susquehanna reduced their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective for the company. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. 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 research report on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Four investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.17.

Diamondback Energy Stock Performance

Shares of FANG opened at $156.17 on Thursday. Diamondback Energy has a 1 year low of $152.00 and a 1 year high of $214.50. The stock has a market capitalization of $45.60 billion, a PE ratio of 8.94, a PEG ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a 50-day simple moving average of $166.67 and a 200-day simple moving average of $178.46.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new position in Diamondback Energy during the 3rd quarter worth approximately $87,000. Creative Planning increased its holdings in Diamondback Energy by 3.0% in the third quarter. Creative Planning now owns 34,391 shares of the oil and natural gas company’s stock valued at $5,929,000 after buying an additional 1,004 shares in the last quarter. Swedbank AB raised its holdings in Diamondback Energy by 69.2% during the third quarter. Swedbank AB now owns 154,922 shares of the oil and natural gas company’s stock worth $26,709,000 after purchasing an additional 63,360 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in shares of Diamondback Energy by 5.2% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,732 shares of the oil and natural gas company’s stock worth $471,000 after buying an additional 135 shares during the last quarter. Finally, Paragon Capital Management Inc. acquired a new position in Diamondback Energy during the third quarter worth about $666,000. 90.01% of the stock is currently 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.