Diamondback Energy (NASDAQ:FANG) Stock Price Expected to Rise, UBS Group Analyst Says

Diamondback Energy (NASDAQ:FANG) had its target price increased by investment analysts at UBS Group from $212.00 to $216.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. UBS Group’s target price would indicate a potential upside of 37.59% from the stock’s previous close.

A number of other equities research analysts have also issued reports on FANG. Wells Fargo & Company increased their target price on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group started coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective for the company. KeyCorp lowered their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Susquehanna lowered their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.17.

Diamondback Energy Price Performance

FANG stock opened at $156.99 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy has a 1 year low of $152.00 and a 1 year high of $214.50. The firm has a market cap of $45.84 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The stock has a 50-day simple moving average of $166.34 and a 200-day simple moving average of $178.30.

Institutional Trading of Diamondback Energy

Hedge funds have recently made changes to their positions in the stock. Wintrust Investments LLC bought a new stake in Diamondback Energy during the 4th quarter valued at $28,000. R Squared Ltd bought a new stake in Diamondback Energy during the 4th quarter valued at $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. Key Financial Inc raised its stake in Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares in the last quarter. Finally, Transce3nd LLC bought a new stake in Diamondback Energy during the 4th quarter valued at $38,000. Institutional investors own 90.01% of the company’s stock.

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.