Diamondback (FANG) Gets a Buy Rating from Barclays

In a report issued on March 11, Jeanine Wai from Barclays maintained a Buy rating on Diamondback (FANG), with a price target of $189. The company’s shares closed yesterday at $100.50.

According to TipRanks.com, Wai ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.8% and a 27.0% success rate. Wai covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Jagged Peak Energy Inc, and Continental Resources.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Diamondback with a $147.50 average price target, a 46.8% upside from current levels. In a report issued on March 11, J.P. Morgan also resumed coverage with a Buy rating on the stock with a $148 price target.

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The company has a one-year high of $140.78 and a one-year low of $85.19. Currently, Diamondback has an average volume of 2.19M.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is neutral on the stock.

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Diamondback Energy, Inc. is independent oil and natural gas company. The firm engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It focuses on the Permian Basin. The company was founded in December 2007 and is headquartered in Midland, TX.