Diamondback Energy (NASDAQ:FANG) Given New $227.00 Price Target at Morgan Stanley

Diamondback Energy (NASDAQ:FANG) had its price objective boosted by Morgan Stanley from $220.00 to $227.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the oil and natural gas company’s stock.

FANG has been the subject of a number of other research reports. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Mizuho dropped their target price on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research report on Friday, January 3rd. JPMorgan Chase & Co. upped their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Four equities research 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, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $216.52.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $156.12 on Wednesday. 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 firm has a fifty day moving average price of $165.74 and a 200 day moving average price of $176.96. Diamondback Energy has a fifty-two week low of $152.00 and a fifty-two week high of $214.50. The firm has a market cap of $45.59 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 1.22 and a beta of 1.86.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its stake in Diamondback Energy by 59.3% in the 4th quarter. Mackenzie Financial Corp now owns 113,222 shares of the oil and natural gas company’s stock worth $18,549,000 after buying an additional 42,140 shares during the period. Forum Financial Management LP increased its stake in Diamondback Energy by 64.8% in the 4th quarter. Forum Financial Management LP now owns 4,960 shares of the oil and natural gas company’s stock worth $813,000 after buying an additional 1,951 shares during the period. Toronto Dominion Bank grew its holdings in Diamondback Energy by 3.9% during the 4th quarter. Toronto Dominion Bank now owns 66,346 shares of the oil and natural gas company’s stock worth $10,869,000 after acquiring an additional 2,468 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Diamondback Energy during the 4th quarter worth about $17,152,000. Finally, Sunbelt Securities Inc. grew its holdings in Diamondback Energy by 34.2% during the 4th quarter. Sunbelt Securities Inc. now owns 4,342 shares of the oil and natural gas company’s stock worth $699,000 after acquiring an additional 1,107 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

About Diamondback Energy

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.