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

Diamondback Energy (NASDAQ:FANG - Get Free Report) had its price target lifted by equities researchers at Morgan Stanley from $220.00 to $227.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the oil and natural gas company's stock. Morgan Stanley's price objective indicates a potential upside of 45.50% from the company's previous close.

A number of other analysts also recently issued reports on the stock. Piper Sandler dropped their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Benchmark reaffirmed a "buy" rating and issued a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. UBS Group increased their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company increased their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They issued a "buy" rating and a $227.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $216.52.

Diamondback Energy Trading Down 3.7 %

FANG traded down $6.07 on Wednesday, reaching $156.02. 1,918,302 shares of the company's stock were exchanged, compared to its average volume of 2,019,352. The company's 50 day moving average is $165.74 and its 200-day moving average is $176.96. The company has a market cap of $45.56 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 1.22 and a beta of 1.86. Diamondback Energy has a twelve month low of $152.00 and a twelve month high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds have recently added to or reduced their stakes in FANG. Wintrust Investments LLC bought a new stake in Diamondback Energy in the fourth quarter valued at $28,000. R Squared Ltd bought a new stake in Diamondback Energy in the fourth quarter valued at $29,000. UMB Bank n.a. lifted its stake in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after buying an additional 136 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in Diamondback Energy in the fourth quarter valued at $33,000. Finally, Key Financial Inc raised its stake in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after purchasing an additional 188 shares in the last quarter. 90.01% of the stock is currently owned by 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.