A number of other research firms also recently commented on FANG. Morgan Stanley boosted their price objective on Diamondback Energy from $153.00 to $161.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. KeyCorp boosted their price objective on Diamondback Energy from $124.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Williams Capital reissued a “buy” rating and issued a $165.00 price objective on shares of Diamondback Energy in a research note on Wednesday, May 8th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $148.00 price objective on shares of Diamondback Energy in a research note on Monday, March 11th. Finally, Roth Capital dropped their price objective on Diamondback Energy from $166.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $160.74.
FANG opened at $98.21 on Tuesday. Diamondback Energy has a one year low of $85.19 and a one year high of $140.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.59 and a current ratio of 0.62. The firm has a market capitalization of $16.43 billion, a PE ratio of 17.02, a PEG ratio of 0.60 and a beta of 0.83.
In other news, insider Randall J. Holder sold 4,000 shares of Diamondback Energy stock in a transaction on Monday, March 18th. The stock was sold at an average price of $104.13, for a total transaction of $416,520.00. Following the transaction, the insider now owns 14,448 shares in the company, valued at $1,504,470.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total value of $560,900.00. Following the transaction, the vice president now owns 117,107 shares in the company, valued at approximately $13,137,063.26. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.
Several hedge funds have recently modified their holdings of FANG. Ranger Investment Management L.P. purchased a new position in shares of Diamondback Energy during the fourth quarter valued at $25,000. Berman Capital Advisors LLC grew its stake in Diamondback Energy by 180.8% in the first quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 188 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Diamondback Energy by 28,126.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock valued at $32,000 after purchasing an additional 2,971,317 shares in the last quarter. Manchester Capital Management LLC purchased a new position in Diamondback Energy in the first quarter valued at about $34,000. Finally, Rehmann Capital Advisory Group grew its stake in Diamondback Energy by 114.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 401 shares of the oil and natural gas company’s stock valued at $37,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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