Diamondback Energy (NASDAQ:FANG)‘s stock had its “buy” rating restated by investment analysts at Northland Securities in a note issued to investors on Wednesday, AnalystRatings.com reports. They presently have a $130.00 price objective on the oil and natural gas company’s stock. Northland Securities’ target price points to a potential upside of 72.05% from the stock’s current price.
A number of other equities research analysts have also recently commented on the company. Raymond James lowered their target price on Diamondback Energy from $155.00 to $120.00 and set a “strong-buy” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada reiterated a “buy” rating and set a $156.00 target price on shares of Diamondback Energy in a research note on Sunday, August 11th. JPMorgan Chase & Co. lowered their target price on Diamondback Energy from $152.00 to $139.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. They noted that the move was a valuation call. BidaskClub upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Co lowered their target price on Diamondback Energy from $171.00 to $168.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $141.05.
FANG opened at $75.56 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.82 and a quick ratio of 0.79. The company has a market capitalization of $14.73 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.46 and a beta of 0.78. The firm’s fifty day moving average price is $86.82 and its two-hundred day moving average price is $98.46. Diamondback Energy has a 1 year low of $74.55 and a 1 year high of $116.12.
In related news, COO Michael L. Hollis sold 2,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $102.25, for a total value of $204,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael P. Cross sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $104.75, for a total value of $104,750.00. The disclosure for this sale can be found here. Insiders sold a total of 16,000 shares of company stock worth $1,621,690 over the last 90 days. 0.47% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Archford Capital Strategies LLC increased its position in shares of Diamondback Energy by 1,100.0% during the second quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after buying an additional 220 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Diamondback Energy during the second quarter valued at about $32,000. Commonwealth Bank of Australia increased its position in shares of Diamondback Energy by 81.7% during the second quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 152 shares during the period. FNY Investment Advisers LLC increased its position in shares of Diamondback Energy by 4,118.2% during the third quarter. FNY Investment Advisers LLC now owns 464 shares of the oil and natural gas company’s stock valued at $41,000 after buying an additional 453 shares during the period. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Diamondback Energy during the second quarter valued at about $44,000. Institutional investors and hedge funds own 99.27% of the company’s stock.
Diamondback Energy Company Profile
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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