Diamondback Energy (FANG) : 14 brokerage houses believe that Diamondback Energy (FANG) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Diamondback Energy (FANG). Zacks Investment Research suggests a Buy with a rank of 2.The median of all the 20 Wall Street Analysts endorse the stock as a Strong Buy with a rating of 1.5.
Diamondback Energy (FANG) : Currently there are 18 street experts covering Diamondback Energy (FANG) stock. The most bullish and bearish price target for the stock is $125 and $82 respectively for the short term. The average price target of all the analysts comes to $97.78. The estimated standard deviation from the target is $11.52.
Diamondback Energy (NASDAQ:FANG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $88.84 and $88.49 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $91.20. The buying momentum continued till the end and the stock did not give up its gains. It closed at $90.50, notching a gain of 1.08% for the day. The total traded volume was 1,620,632 . The stock had closed at $89.53 on the previous day.
Also, Major Brokerage house, Deutsche Bank maintains its ratings on Diamondback Energy (NASDAQ:FANG). In the latest research report, Deutsche Bank raises the target price from $100 per share to $104 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on June 14, 2016. The company shares have rallied 29.21% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $96.01 and the one year low was seen on Jan 12, 2016. The 50-Day Moving Average price is $89.67 and the 200 Day Moving Average price is recorded at $78.08.
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.