Morgan Stanley Boosts Diamondback Energy (NASDAQ:FANG) Price Target to $227.00

Diamondback Energy (NASDAQ:FANG) had its price objective lifted by Morgan Stanley from $220.00 to $227.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s price target would suggest a potential upside of 44.81% from the stock’s current price.

Several other research analysts also recently weighed in on FANG. UBS Group increased their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Benchmark restated a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday, October 29th. 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 note on Friday, January 17th. Finally, Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.43.

Diamondback Energy Stock Down 0.1 %

FANG stock opened at $156.76 on Wednesday. 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 company has a market capitalization of $45.77 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 1.22 and a beta of 1.86. Diamondback Energy has a fifty-two week low of $152.00 and a fifty-two week high of $214.50. The stock has a fifty day moving average of $165.82 and a 200-day moving average of $177.18.

Hedge Funds Weigh In On Diamondback Energy

Large investors have recently modified their holdings of the company. Swedbank AB raised its holdings in shares of Diamondback Energy by 28.0% during the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after buying an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Diamondback Energy by 631.1% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after buying an additional 37,246 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after buying an additional 47,951 shares in the last quarter. Tectonic Advisors LLC raised its holdings in shares of Diamondback Energy by 38.2% during the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after buying an additional 8,704 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in shares of Diamondback Energy by 368.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after buying an additional 7,694 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.