UBS Group Issues Positive Forecast for Diamondback Energy (NASDAQ:FANG) Stock Price

Diamondback Energy (NASDAQ:FANG) had its price objective increased by analysts at UBS Group from $212.00 to $216.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. UBS Group’s price objective indicates a potential upside of 37.52% from the company’s previous close.

FANG has been the topic of several other reports. KeyCorp lowered their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research 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. Susquehanna lowered their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Finally, Benchmark reiterated a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.17.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded up $1.61 during trading hours on Thursday, hitting $157.07. 158,843 shares of the stock were exchanged, compared to its average volume of 1,894,490. Diamondback Energy has a one year low of $152.00 and a one year high of $214.50. The company’s 50 day moving average is $166.67 and its 200 day moving average is $178.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market capitalization of $45.86 billion, a P/E ratio of 8.98, a P/E/G ratio of 1.24 and a beta of 1.86.

Institutional Investors Weigh In On Diamondback Energy

Hedge funds have recently made changes to their positions in the company. Financial Advocates Investment Management grew its stake in Diamondback Energy by 3.0% during the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after buying an additional 55 shares during the last quarter. Greenup Street Wealth Management LLC grew its position in Diamondback Energy by 3.4% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock worth $313,000 after acquiring an additional 60 shares during the last quarter. Lakewood Asset Management LLC increased its holdings in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares in the last quarter. West Family Investments Inc. raised its position in Diamondback Energy by 3.4% in the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 61 shares during the last quarter. Finally, Magnolia Capital Advisors LLC boosted its stake in Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after purchasing an additional 64 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.