Diamondback Energy (NASDAQ:FANG – Get Free Report) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage presently has a $170.00 price objective on the oil and natural gas company’s stock, up from their prior price objective of $129.00. Bank of America‘s price objective indicates a potential upside of 2.66% from the stock’s previous close.
Other analysts have also issued research reports about the stock. Piper Sandler dropped their price objective on shares of Diamondback Energy from $206.00 to $201.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Susquehanna dropped their price objective on shares of Diamondback Energy from $203.00 to $190.00 and set a “positive” rating on the stock in a research note on Friday, January 26th. Morgan Stanley dropped their price objective on shares of Diamondback Energy from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. Bank Of America (Bofa) dropped their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research note on Thursday, January 18th. Finally, KeyCorp decreased their price target on shares of Diamondback Energy from $183.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $180.84.
Check Out Our Latest Stock Analysis on Diamondback Energy
Diamondback Energy Trading Down 0.2 %
NASDAQ FANG opened at $165.60 on Monday. Diamondback Energy has a one year low of $119.01 and a one year high of $171.40. The company’s 50 day moving average price is $153.87 and its 200 day moving average price is $154.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 0.89. The firm has a market capitalization of $29.64 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.37 and a beta of 1.89.
Institutional Investors Weigh In On Diamondback Energy
A number of hedge funds have recently added to or reduced their stakes in FANG. AlphaCrest Capital Management LLC lifted its stake in Diamondback Energy by 6.0% in the first quarter. AlphaCrest Capital Management LLC now owns 3,156 shares of the oil and natural gas company’s stock valued at $433,000 after buying an additional 178 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Diamondback Energy by 8.2% during the first quarter. Raymond James Trust N.A. now owns 4,932 shares of the oil and natural gas company’s stock valued at $676,000 after purchasing an additional 374 shares in the last quarter. Cibc World Market Inc. raised its stake in shares of Diamondback Energy by 13.6% during the first quarter. Cibc World Market Inc. now owns 34,403 shares of the oil and natural gas company’s stock valued at $4,716,000 after purchasing an additional 4,129 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Diamondback Energy during the first quarter valued at about $223,000. Finally, Blair William & Co. IL bought a new stake in shares of Diamondback Energy during the first quarter valued at about $205,000. 87.84% of the stock is currently owned by institutional investors.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.
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