Northland Securities set a $125.00 price target on Diamondback Energy, Inc. (NASDAQ:FANG) in a research report sent to investors on Monday, July 17th. The brokerage currently has a buy rating on the oil and natural gas company’s stock.
A number of other research firms have also weighed in on FANG. Scotiabank reiterated a buy rating and issued a $121.00 price objective on shares of Diamondback Energy in a research report on Monday, March 27th. Barclays PLC reiterated an equal weight rating and issued a $110.00 price objective (down from $123.00) on shares of Diamondback Energy in a research report on Saturday, April 22nd. Zacks Investment Research lowered shares of Diamondback Energy from a buy rating to a hold rating in a research report on Monday, March 27th. Stifel Nicolaus started coverage on shares of Diamondback Energy in a research report on Wednesday, April 12th. They issued a buy rating and a $123.00 price objective on the stock. Finally, Roth Capital set a $130.00 price objective on shares of Diamondback Energy and gave the company a buy rating in a research report on Tuesday, May 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 company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $115.92.
Shares of Diamondback Energy (NASDAQ FANG) opened at 92.87 on Monday. The firm’s 50-day moving average is $91.49 and its 200 day moving average is $98.25. Diamondback Energy has a 52-week low of $82.77 and a 52-week high of $114.00. The stock has a market cap of $9.11 billion, a P/E ratio of 25.53 and a beta of 1.06.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.44. The business had revenue of $267.40 million for the quarter, compared to analyst estimates of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The company’s revenue for the quarter was up 137.7% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. Analysts forecast that Diamondback Energy will post $4.88 earnings per share for the current fiscal year.
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In other news, Director Steven E. West bought 2,400 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average price of $103.45 per share, with a total value of $248,280.00. Following the purchase, the director now owns 2,400 shares of the company’s stock, valued at approximately $248,280. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael L. Hollis sold 1,000 shares of Diamondback Energy stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its stake in Diamondback Energy by 26.2% in the first quarter. Toronto Dominion Bank now owns 969 shares of the oil and natural gas company’s stock valued at $100,000 after buying an additional 201 shares during the period. Winch Advisory Services LLC acquired a new stake in Diamondback Energy during the first quarter valued at approximately $105,000. Johnson Financial Group Inc. acquired a new stake in Diamondback Energy during the second quarter valued at approximately $102,000. State of Alaska Department of Revenue acquired a new stake in Diamondback Energy during the first quarter valued at approximately $180,000. Finally, Stevens Capital Management LP acquired a new stake in Diamondback Energy during the first quarter valued at approximately $201,000. Institutional investors own 97.20% of the company’s stock.
Diamondback Energy Company Profile
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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