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

Diamondback Energy (NASDAQ:FANG) had its price target hoisted by equities research analysts at Morgan Stanley from $220.00 to $227.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s price target points to a potential upside of 40.05% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. Raymond James increased their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Truist Financial lifted their price objective on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wolfe Research upgraded shares of 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. Finally, The Goldman Sachs Group began coverage on Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target on the stock. Four investment 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 stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.52.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $162.09 on Wednesday. The stock’s 50-day moving average is $165.74 and its two-hundred day moving average is $177.07. 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 $47.33 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 1.21 and a beta of 1.86.

Institutional Trading of Diamondback Energy

Several large investors have recently bought and sold shares of FANG. Financial Advocates Investment Management grew its stake in Diamondback Energy by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after acquiring an additional 55 shares during the last quarter. Lakewood Asset Management LLC lifted its holdings in shares of Diamondback Energy by 0.5% in the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares in the last quarter. West Family Investments Inc. grew its position in shares of Diamondback Energy by 3.4% in the third quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 61 shares during the last quarter. Magnolia Capital Advisors LLC grew its position in shares of Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after purchasing an additional 64 shares during the last quarter. Finally, Barden Capital Management Inc. increased its stake in shares of Diamondback Energy by 1.5% during the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 64 shares in 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.