Diamondback (FANG) Received its Third Buy in a Row

After Northland Securities and Williams Capital gave Diamondback (NASDAQ: FANG) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Drew Venker maintained a Buy rating on Diamondback today and set a price target of $144. The company’s shares opened today at $105.04.

According to TipRanks.com, Venker has 0 stars on 0-5 star ranking scale with an average return of -7.7% and a 33.7% success rate. Venker covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Continental Resources, and Range Resources Corp.

Currently, the analyst consensus on Diamondback is a Strong Buy with an average price target of $153.88, which is a 46.5% 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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Diamondback’s market cap is currently $17.28B and has a P/E ratio of 13.22. The company has a Price to Book ratio of 1.26.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative 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.