BMO Capital Markets set a $100.00 target price on Diamondback Energy, Inc. (NASDAQ:FANG) in a research report released on Tuesday, August 1st. The firm currently has a buy rating on the oil and natural gas company’s stock.
Several other equities analysts have also recently weighed in on the company. Barclays PLC reaffirmed an equal weight rating and set a $110.00 target price (down previously from $123.00) on shares of Diamondback Energy in a research note on Saturday, April 22nd. Stifel Nicolaus assumed coverage on Diamondback Energy in a report on Wednesday, April 12th. They set a buy rating and a $123.00 price target for the company. Roth Capital set a $130.00 price target on Diamondback Energy and gave the company a buy rating in a report on Tuesday, May 2nd. BidaskClub lowered Diamondback Energy from a sell rating to a strong sell rating in a report on Tuesday, June 20th. Finally, Credit Suisse Group reiterated an outperform rating and set a $151.00 price target on shares of Diamondback Energy in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-one have assigned a buy rating to the stock. Diamondback Energy currently has an average rating of Buy and an average price target of $115.92.
Diamondback Energy (NASDAQ:FANG) traded up 0.88% during mid-day trading on Tuesday, hitting $92.87. 1,182,586 shares of the stock were exchanged. The company has a 50 day moving average price of $91.49 and a 200 day moving average price of $98.25. Diamondback Energy has a 52-week low of $82.77 and a 52-week high of $114.00. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 25.53 and a beta of 1.06.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The company had revenue of $267.40 million for the quarter, compared to analysts’ expectations of $258.75 million. During the same quarter in the previous year, the business posted $0.26 EPS. The business’s revenue for the quarter was up 137.7% on a year-over-year basis. On average, analysts anticipate that Diamondback Energy will post $4.88 EPS for the current year.
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In related news, Director Steven E. West purchased 2,400 shares of the stock in a transaction on Wednesday, May 17th. The shares were purchased at an average cost of $103.45 per share, for a total transaction of $248,280.00. Following the completion of the transaction, the director now directly owns 2,400 shares of the company’s stock, valued at approximately $248,280. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total value of $101,520.00. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.
Several hedge funds have recently made changes to their positions in FANG. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Diamondback Energy by 1.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock valued at $224,000 after buying an additional 40 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Diamondback Energy by 1.5% in the second quarter. Profund Advisors LLC now owns 4,163 shares of the oil and natural gas company’s stock valued at $370,000 after buying an additional 62 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Diamondback Energy by 2.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,650 shares of the oil and natural gas company’s stock valued at $379,000 after buying an additional 100 shares during the period. American International Group Inc. raised its position in shares of Diamondback Energy by 5.8% in the first quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock valued at $239,000 after buying an additional 126 shares during the period. Finally, AT Bancorp raised its position in shares of Diamondback Energy by 1.8% in the second quarter. AT Bancorp now owns 8,475 shares of the oil and natural gas company’s stock valued at $753,000 after buying an additional 151 shares during the period. Institutional investors own 97.20% of the company’s stock.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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