Is Deutsche Bank Positive On Shares of Diamondback Energy (NASDAQ:FANG)?

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Why Has Deutsche Bank Given Diamondback Energy (NASDAQ:FANG) a $94.00 Price Target

Deutsche Bank analyst began issuing coverage on Diamondback Energy (NASDAQ:FANG) with a $94.00 target PPS and “Buy” rating. The target PPS may suggest a potential upside of 20.20% from company’s last stock price.

From a total of 26 analysts covering Diamondback Energy (NASDAQ:FANG) stock, 25 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 86% of the ratings are positive. The highest target price is $104 while the lowest target price is $71. The mean of all analyst targets is $88.88 with a 12.44% above today’s ($78.2) stock price. Diamondback Energy was the topic of 21 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Roth Capital maintained shares on November 17 with “Buy” rating. Evercore initiated shares with “Buy” rating and $86 target share price in a report from an October 2. Northland Capital maintained FANG stock in a recent report from November 5 with “Outperform” rating. Euro Pacific Capital initiated the rating on September 9. Euro Pacific Capital has a “Buy” rating and a $90 price target on shares. Finally, Canaccord Genuity initiated the stock with “Buy” rating in a report issued on an October 20.

The stock increased 0.23% or $0.18 during the last trading session, striking $78.2. Approximately shares of stock traded hands. Diamondback Energy Inc (NASDAQ:FANG) has declined 5.74% since April 29, 2015 and is downtrending. It has underperformed by 5.54% the S&P500.

Diamondback Energy, Inc. is an independent oil and natural gas company. The company has a market cap of $5.18 billion. The Firm is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. It currently has negative earnings. The Company, through its subsidiary Viper, owns mineral interests underlying approximately 24,528 gross acres in Midland County Texas in the Permian Basin.

According to Zacks Investment Research, “Diamondback Energy, Inc. is an oil and natural gas company 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’s activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations. Diamondback Energy, Inc. is headquartered in Midland, Texas.” Get a free copy of the Zacks research report on Diamondback Energy Inc (FANG).

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