Diamondback Energy (NASDAQ:FANG) Price Target Raised to $238.00 at Truist Financial

Diamondback Energy (NASDAQ:FANG) had its price objective lifted by equities research analysts at Truist Financial from $236.00 to $238.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Truist Financial’s price target indicates a potential upside of 48.08% from the stock’s previous close.

FANG has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price target on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Mizuho lowered their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Piper Sandler decreased their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley increased their price target on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.52.

Diamondback Energy Stock Up 2.5 %

NASDAQ FANG traded up $3.97 during trading hours on Wednesday, hitting $160.73. 705,007 shares of the company were exchanged, compared to its average volume of 1,977,426. The company has a 50 day moving average of $165.82 and a two-hundred day moving average of $177.18. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy has a 52-week low of $152.00 and a 52-week high of $214.50. The firm has a market cap of $46.93 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 1.22 and a beta of 1.86.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wintrust Investments LLC purchased a new stake in Diamondback Energy in the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy in the 4th quarter worth $29,000. UMB Bank n.a. increased its stake 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 acquiring an additional 136 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter worth $33,000. Finally, Key Financial Inc increased its stake in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 188 shares during the last quarter. Institutional investors and hedge funds 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.