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

Diamondback Energy (NASDAQ:FANG) had its price objective raised by investment analysts at Mizuho from $201.00 to $204.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and natural gas company’s stock. Mizuho’s target price indicates a potential upside of 31.42% from the company’s current price.

Several other research analysts have also weighed in on FANG. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. JPMorgan Chase & Co. raised their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Raymond James upped their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Finally, UBS Group raised their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $216.09.

Diamondback Energy Price Performance

Shares of FANG stock traded up $0.00 during mid-day trading on Tuesday, hitting $155.23. 2,239,597 shares of the stock traded hands, compared to its average volume of 2,138,574. 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. The company’s 50-day simple moving average is $165.52 and its 200-day simple moving average is $176.27. The firm has a market cap of $45.33 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. As a group, equities research analysts expect that Diamondback Energy will post 15.49 earnings per share for the current year.

Institutional Trading of Diamondback Energy

Several hedge funds have recently added to or reduced their stakes in FANG. Financial Advocates Investment Management lifted its stake in shares of Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after buying an additional 55 shares in the last quarter. Lakewood Asset Management LLC increased its position in shares of Diamondback Energy by 0.5% in the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after purchasing an additional 60 shares during the last quarter. West Family Investments Inc. raised its position in shares of Diamondback Energy by 3.4% during 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 buying an additional 61 shares in the last quarter. Magnolia Capital Advisors LLC lifted its stake in Diamondback Energy by 2.0% during 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 during the last quarter. Finally, Barden Capital Management Inc. grew its position in Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock valued at $718,000 after acquiring an additional 64 shares during the last quarter. Institutional investors 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.