Diamondback Energy (NASDAQ:FANG) Upgraded to Neutral at Bank of America

Bank of America upgraded shares of Diamondback Energy (NASDAQ:FANGFree Report) from an underperform rating to a neutral rating in a research report report published on Monday, Marketbeat Ratings reports. They currently have $170.00 target price on the oil and natural gas company’s stock, up from their prior target price of $129.00.

Several other analysts have also recently issued reports on the stock. Susquehanna lowered their price objective on shares of Diamondback Energy from $203.00 to $190.00 and set a positive rating for the company in a research note on Friday, January 26th. Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $190.00 to $189.00 and set an overweight rating for the company in a research note on Wednesday, November 22nd. Mizuho lowered their price objective on shares of Diamondback Energy from $178.00 to $177.00 and set a buy rating for the company in a research note on Friday, January 12th. KeyCorp reduced their target price on shares of Diamondback Energy from $183.00 to $170.00 and set an overweight rating on the stock in a report on Thursday, January 11th. Finally, Morgan Stanley reduced their target price on shares of Diamondback Energy from $171.00 to $169.00 and set an overweight rating on the stock in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $177.59.

Check Out Our Latest Stock Report on Diamondback Energy

Diamondback Energy Stock Up 9.4 %

Shares of NASDAQ FANG opened at $165.98 on Monday. Diamondback Energy has a 52-week low of $119.01 and a 52-week high of $171.40. The firm has a fifty day moving average of $153.56 and a 200-day moving average of $154.36. The stock has a market capitalization of $29.71 billion, a PE ratio of 9.42, a P/E/G ratio of 0.37 and a beta of 1.89. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On Diamondback Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Diamondback Energy by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after buying an additional 648,317 shares in the last quarter. State Street Corp increased its position in shares of Diamondback Energy by 1.0% in the 1st quarter. State Street Corp now owns 11,656,848 shares of the oil and natural gas company’s stock worth $1,575,653,000 after purchasing an additional 112,297 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Diamondback Energy by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,968,392 shares of the oil and natural gas company’s stock worth $519,995,000 after purchasing an additional 48,467 shares during the last quarter. Morgan Stanley increased its position in shares of Diamondback Energy by 2.5% in the 4th quarter. Morgan Stanley now owns 3,572,083 shares of the oil and natural gas company’s stock worth $488,590,000 after purchasing an additional 85,618 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Diamondback Energy by 6.6% in the 3rd quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock worth $514,289,000 after purchasing an additional 206,189 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

About Diamondback Energy

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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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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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