Diamondback Energy (NASDAQ:FANG) PT Raised to $198.00 at Morgan Stanley

Diamondback Energy (NASDAQ:FANG) had its price target lifted by research analysts at Morgan Stanley from $185.00 to $198.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s price objective indicates a potential upside of 14.44% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a report on Monday. They set a “hold” rating and a $185.00 target price on the stock. Sanford C. Bernstein reduced their target price on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Benchmark reiterated a “buy” rating and issued a $154.00 price objective on shares of Diamondback Energy in a report on Tuesday, August 6th. Susquehanna cut their price objective on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, KeyCorp began coverage on shares of Diamondback Energy in a report on Thursday, June 27th. They issued an “overweight” rating and a $225.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.86.

Diamondback Energy Trading Up 0.3 %

Shares of FANG traded up $0.59 during mid-day trading on Monday, reaching $173.01. The company had a trading volume of 817,347 shares, compared to its average volume of 1,545,260. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The stock has a market cap of $30.86 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. The firm has a fifty day simple moving average of $194.77 and a 200-day simple moving average of $195.87. Diamondback Energy has a fifty-two week low of $143.08 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.68 EPS. On average, sell-side analysts anticipate that Diamondback Energy will post 19.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors have recently modified their holdings of the business. QRG Capital Management Inc. boosted its stake in Diamondback Energy by 19.7% during the 4th quarter. QRG Capital Management Inc. now owns 2,085 shares of the oil and natural gas company’s stock valued at $323,000 after purchasing an additional 343 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Diamondback Energy by 16.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,710 shares of the oil and natural gas company’s stock valued at $1,041,000 after purchasing an additional 941 shares during the period. Avantax Advisory Services Inc. boosted its stake in Diamondback Energy by 3.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,004 shares of the oil and natural gas company’s stock valued at $776,000 after purchasing an additional 169 shares during the period. Beacon Pointe Advisors LLC boosted its stake in Diamondback Energy by 18.5% during the 4th quarter. Beacon Pointe Advisors LLC now owns 7,021 shares of the oil and natural gas company’s stock valued at $1,089,000 after purchasing an additional 1,097 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in Diamondback Energy by 25.5% during the 4th quarter. Panagora Asset Management Inc. now owns 11,638 shares of the oil and natural gas company’s stock valued at $1,805,000 after purchasing an additional 2,362 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.