Piper Jaffray Companies Reiterates “Buy” Rating for Diamondback Energy (FANG)

Piper Jaffray Companies reiterated their buy rating on shares of Diamondback Energy (NASDAQ:FANG) in a report issued on Tuesday morning. Piper Jaffray Companies currently has a $138.00 price objective on the oil and natural gas company’s stock.

FANG has been the topic of several other research reports. BidaskClub upgraded Diamondback Energy from a buy rating to a strong-buy rating in a report on Friday, December 22nd. Barclays lifted their price objective on Diamondback Energy from $105.00 to $121.00 and gave the stock an equal weight rating in a report on Wednesday, October 11th. Zacks Investment Research downgraded Diamondback Energy from a buy rating to a hold rating in a report on Thursday, November 9th. Jefferies Group started coverage on Diamondback Energy in a report on Monday, October 9th. They issued a buy rating and a $124.00 price objective on the stock. Finally, Citigroup started coverage on Diamondback Energy in a report on Friday, December 1st. They issued a buy rating and a $130.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $125.42.

Diamondback Energy (NASDAQ:FANG) traded up $0.24 during midday trading on Tuesday, reaching $130.14. The company’s stock had a trading volume of 1,031,170 shares, compared to its average volume of 1,304,711. Diamondback Energy has a twelve month low of $82.77 and a twelve month high of $132.07. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $12,750.00, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 0.74 and a beta of 1.08.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.31. The firm had revenue of $301.30 million for the quarter, compared to the consensus estimate of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The company’s quarterly revenue was up 112.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.03) earnings per share. analysts expect that Diamondback Energy will post 5.07 earnings per share for the current year.

In related news, insider Michael L. Hollis sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $105.00, for a total value of $210,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Travis D. Stice sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $125.00, for a total value of $4,375,000.00. The disclosure for this sale can be found here. Insiders sold 78,400 shares of company stock worth $9,361,210 over the last three months. 0.41% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in Diamondback Energy by 1.6% during the 2nd quarter. FMR LLC now owns 11,609,146 shares of the oil and natural gas company’s stock valued at $1,031,009,000 after acquiring an additional 185,890 shares in the last quarter. Vanguard Group Inc. boosted its position in Diamondback Energy by 8.9% during the 2nd quarter. Vanguard Group Inc. now owns 7,988,153 shares of the oil and natural gas company’s stock valued at $709,428,000 after acquiring an additional 651,353 shares in the last quarter. Boston Partners boosted its position in Diamondback Energy by 18.1% during the 3rd quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock valued at $771,379,000 after acquiring an additional 1,208,864 shares in the last quarter. Warburg Pincus LLC boosted its position in Diamondback Energy by 132.4% during the 2nd quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock valued at $580,188,000 after acquiring an additional 3,721,519 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Diamondback Energy by 4.9% during the 2nd quarter. BlackRock Inc. now owns 4,936,470 shares of the oil and natural gas company’s stock valued at $438,409,000 after acquiring an additional 229,276 shares in the last quarter.

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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.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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