Analysts Set Diamondback Energy, Inc. (NASDAQ:FANG) Target Price at $209.65

Diamondback Energy, Inc. (NASDAQ:FANG) has received a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $209.65.

Several equities research analysts recently issued reports on FANG shares. Stifel Nicolaus raised their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Susquehanna raised their target price on shares of Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Mizuho raised their target price on shares of Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Piper Sandler raised their price objective on shares of Diamondback Energy from $247.00 to $249.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Finally, Morgan Stanley cut their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, April 15th.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $189.06 on Friday. The stock has a market capitalization of $33.72 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.06 and a beta of 1.90. The business has a 50-day moving average of $198.25 and a 200-day moving average of $189.93. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. Diamondback Energy has a fifty-two week low of $143.08 and a fifty-two week high of $214.50.

Insider Buying and Selling

In related news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total value of $1,182,840.00. Following the sale, the chief operating officer now owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC raised its holdings in shares of Diamondback Energy by 1.8% during the fourth quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock valued at $3,058,000 after purchasing an additional 354 shares during the period. Franklin Resources Inc. increased its position in shares of Diamondback Energy by 14.1% during the fourth quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock worth $7,852,000 after acquiring an additional 6,240 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Diamondback Energy by 748.0% during the fourth quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock worth $2,361,000 after acquiring an additional 13,426 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Diamondback Energy by 613.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after acquiring an additional 13,243 shares in the last quarter. Finally, abrdn plc increased its position in shares of Diamondback Energy by 70.9% during the fourth quarter. abrdn plc now owns 75,333 shares of the oil and natural gas company’s stock worth $11,683,000 after acquiring an additional 31,241 shares in the last quarter. Institutional investors and hedge funds 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.