Diamondback Energy (NASDAQ:FANG) has received a short term rating of hold from experts at Zacks with a rank of 3. The stock has been rated an average of 1.5 by 20 Brokerage Firm. 14 Wall Street Firms have rated the stock as a strong buys. 2 stock experts have also suggested a buy rating. 4 Brokerage Firms have advised hold.
Other Equity analysts have also commented on the company shares. Equity analysts at the Brokerage firm Deutsche Bank maintains its rating on Diamondback Energy (NASDAQ:FANG). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Deutsche Bank raises the price target from $100 per share to $104 per share. The rating by the firm was issued on June 14, 2016.
Diamondback Energy (NASDAQ:FANG): The mean short term price target for Diamondback Energy (NASDAQ:FANG) has been established at $97.61 per share. The higher price target estimate is at $125 and the lower price target estimate is expected at $82 according to 18 Analyst. The stock price is expected to vary based on the estimate which is suggested by the standard deviation value of $11.39
Diamondback Energy (NASDAQ:FANG) rose 2.15% or 1.91 points on Tuesday and made its way into the gainers of the day. After trading began at $89.16 the stock was seen hitting $91.33 as a peak level and $88.09 as the lowest level. The stock ended up at $90.92. The daily volume was measured at 951,198 shares. The 52-week high of the share price is $96.01 and the 52-week low is $55.48. The company has a market cap of $6,519 million.
Shares of Diamondback Energy, Inc. rose by 1.18% in the last five trading days and 4.48% for the last 4 weeks. Diamondback Energy, Inc. is up 16.53% in the last 3-month period. Year-to-Date the stock performance stands at 35.9%.
Diamondback Energy, Inc. is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. The Company, through its subsidiary Viper, owns mineral interests underlying approximately 24,528 gross (15,948 net) acres in Midland County Texas in the Permian Basin. Approximately 43% of these net acres are operated by the Company. As of December 31, 2014, it had drilled or participated in the drilling of 405 gross (343 net) wells on its leasehold acreage in this area, primarily targeting the Wolfberry play. The Permian Basin area covers a portion of western Texas and eastern New Mexico. The Companys activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations, which it refers to collectively as the Wolfberry play.