Diamondback Energy, Inc. (NASDAQ:FANG) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $215.00.

FANG has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group dropped their price target on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Truist Financial raised their price target on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research note on Friday, January 3rd. Finally, KeyCorp dropped their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th.

Hedge Funds Weigh In On Diamondback Energy

Several large investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of Diamondback Energy in the fourth quarter worth about $298,327,000. Assenagon Asset Management S.A. increased its holdings in shares of Diamondback Energy by 1,153.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after purchasing an additional 1,042,505 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Diamondback Energy by 30.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock worth $461,600,000 after purchasing an additional 658,644 shares during the last quarter. Boston Partners increased its holdings in shares of Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock worth $849,202,000 after purchasing an additional 571,820 shares during the last quarter. Finally, Zimmer Partners LP bought a new stake in shares of Diamondback Energy in the third quarter worth about $87,924,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 4.0 %

Diamondback Energy stock opened at $155.46 on Thursday. The firm has a market cap of $45.39 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.24 and a beta of 1.86. The stock has a fifty day simple moving average of $166.98 and a two-hundred day simple moving average of $178.62. Diamondback Energy has a 12 month low of $152.00 and a 12 month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

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.