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

Diamondback Energy (NASDAQ:FANG) had its price target boosted by Truist Financial from $236.00 to $238.00 in a research note released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the oil and natural gas company’s stock.

Several other equities analysts also recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. The Goldman Sachs Group began coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price target for the company. Mizuho dropped 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. UBS Group raised their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $216.52.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $156.12 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 stock has a fifty day moving average of $165.74 and a two-hundred day moving average of $176.96. The company has a market capitalization of $45.59 billion, a price-to-earnings ratio of 8.94, 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.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors have recently added to or reduced their stakes in the company. Swedbank AB grew its position in Diamondback Energy by 28.0% during the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after acquiring an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Diamondback Energy by 631.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock worth $7,069,000 after buying an additional 37,246 shares during the period. Franklin Resources Inc. boosted its position in shares of Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after buying an additional 47,951 shares during the period. Tectonic Advisors LLC boosted its position in shares of Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after buying an additional 8,704 shares during the period. Finally, Benjamin Edwards Inc. boosted its position in shares of Diamondback Energy by 368.1% in the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after buying an additional 7,694 shares during the period. Hedge funds and other 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.