Diamondback Energy, Inc. (NASDAQ:FANG) Receives Average Rating of “Moderate Buy” from Analysts

Diamondback Energy, Inc. (NASDAQ:FANG) has been assigned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $209.65.

A number of research analysts have recently weighed in on FANG shares. Sanford C. Bernstein dropped their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Piper Sandler lifted their price objective on Diamondback Energy from $247.00 to $249.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Barclays began coverage on Diamondback Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price objective for the company. KeyCorp began coverage on Diamondback Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective for the company. Finally, Mizuho lifted their price objective on Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a research report on Monday, May 13th.

Insider Activity

In related news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the transaction, the chief operating officer now directly owns 69,677 shares in the company, valued at approximately $13,736,123.78. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Founders Capital Management boosted its position in Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares during the period. First Community Trust NA acquired a new position in Diamondback Energy during the 2nd quarter worth $26,000. Logan Capital Management Inc. acquired a new position in Diamondback Energy during the 4th quarter worth $31,000. Turtle Creek Wealth Advisors LLC acquired a new position in Diamondback Energy during the 4th quarter worth $34,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Diamondback Energy during the 1st quarter worth $49,000. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Down 4.6 %

Shares of FANG stock opened at $189.06 on Friday. Diamondback Energy has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The stock has a market cap of $33.72 billion, a P/E ratio of 10.66, a P/E/G ratio of 1.06 and a beta of 1.90. The business has a fifty day simple moving average of $198.25 and a 200-day simple moving average of $189.93. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37.

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.