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

Diamondback Energy (NASDAQ:FANG) had its price target raised by equities research analysts at Morgan Stanley from $220.00 to $227.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s target price would suggest a potential upside of 44.81% from the company’s current price.

FANG has been the topic of several other reports. Raymond James upped their target price on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Benchmark restated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. Wells Fargo & Company increased their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. increased their price target on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.43.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $156.76 on Wednesday. The business’s 50 day simple moving average is $165.82 and its 200 day simple moving average is $177.18. Diamondback Energy has a one year low of $152.00 and a one year high of $214.50. The stock has a market capitalization of $45.77 billion, a PE ratio of 8.97, a PEG ratio of 1.22 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Institutional Investors Weigh In On Diamondback Energy

A number of institutional investors and hedge funds have recently bought and sold shares of FANG. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at $28,000. R Squared Ltd purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at $29,000. UMB Bank n.a. increased its position in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at $33,000. Finally, Key Financial Inc increased its position in shares of Diamondback Energy by 940.0% during the 4th 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 during the last quarter. 90.01% of the stock is owned by hedge funds and other 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.