Diamondback Energy, Inc. (NASDAQ:FANG) had its price target raised by stock analysts at Barclays PLC from $93.00 to $105.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has an “equal weight” rating on the oil and natural gas company’s stock. Barclays PLC’s target price suggests a potential upside of 10.55% from the stock’s current price.
A number of other equities analysts have also recently commented on the company. Stifel Nicolaus started coverage on Diamondback Energy in a research note on Wednesday, April 12th. They issued a “buy” rating and a $123.00 price target on the stock. Roth Capital set a $130.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. BMO Capital Markets set a $120.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. BidaskClub cut Diamondback Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $151.00 price target on shares of Diamondback Energy in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $115.77.
Diamondback Energy (NASDAQ FANG) traded down 1.10% on Tuesday, hitting $94.98. The stock had a trading volume of 1,905,129 shares. The company has a 50-day moving average price of $89.98 and a 200-day moving average price of $98.63. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $114.00. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 2020.85 and a beta of 1.06.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.44. The business had revenue of $267.40 million for the quarter, compared to analysts’ expectations of $258.75 million. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The business’s quarterly revenue was up 137.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. Equities analysts predict that Diamondback Energy will post $4.52 earnings per share for the current year.
In related news, Director Steven E. West bought 2,400 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were acquired at an average cost of $103.45 per share, with a total value of $248,280.00. Following the completion of the acquisition, the director now owns 2,400 shares of the company’s stock, valued at approximately $248,280. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was 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. 0.41% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in FANG. 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 last quarter. Winch Advisory Services LLC bought a new stake in Diamondback Energy during the first quarter valued at $105,000. State of Alaska Department of Revenue bought a new stake in Diamondback Energy during the first quarter valued at $180,000. Stevens Capital Management LP bought a new stake in Diamondback Energy during the first quarter valued at $201,000. Finally, Teza Capital Management LLC bought a new stake in Diamondback Energy during the first quarter valued at $202,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.
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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