Diamondback Energy (NASDAQ:FANG) Price Target Raised to $204.00

Diamondback Energy (NASDAQ:FANG) had its target price increased by analysts at Mizuho from $201.00 to $204.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and natural gas company’s stock. Mizuho’s price objective would indicate a potential upside of 31.42% from the stock’s current price.

Several other analysts also recently commented on FANG. UBS Group increased their target price on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Piper Sandler reduced their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. 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 target price on the stock. Finally, Benchmark restated a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $216.09.

Diamondback Energy Stock Up 0.0 %

Shares of NASDAQ:FANG traded up $0.00 during trading on Tuesday, hitting $155.23. The stock had a trading volume of 2,239,597 shares, compared to its average volume of 2,138,574. The company has a market capitalization of $45.33 billion, a PE ratio of 8.85, a PEG ratio of 1.24 and a beta of 1.86. 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 firm’s fifty day moving average is $165.52 and its 200 day moving average is $176.27. Diamondback Energy has a 12 month low of $152.00 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating 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 business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Analysts anticipate that Diamondback Energy will post 15.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors have recently made changes to their positions in FANG. Wintrust Investments LLC purchased a new position in Diamondback Energy during the 4th quarter valued at $28,000. R Squared Ltd purchased a new position in Diamondback Energy during the 4th quarter worth $29,000. UMB Bank n.a. lifted its holdings in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares during the period. Fourth Dimension Wealth LLC bought a new position in Diamondback Energy during the 4th quarter worth about $33,000. Finally, Key Financial Inc increased its holdings in Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares during the period. 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.