Diamondback Energy, Inc. (FANG) Receives $124.55 Consensus PT from Analysts

Diamondback Energy, Inc. (NASDAQ:FANG) has been assigned a consensus recommendation of “Buy” from the twenty-seven analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $125.45.

A number of equities analysts have issued reports on the company. BMO Capital Markets set a $130.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday. Mizuho reiterated a “buy” rating and set a $114.00 target price (up previously from $109.00) on shares of Diamondback Energy in a report on Thursday, August 3rd. Williams Capital set a $114.00 target price on Diamondback Energy and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Imperial Capital increased their target price on Diamondback Energy from $113.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $130.00 target price on shares of Diamondback Energy in a report on Friday, November 10th.

In related news, VP Hof Matthew Kaes Van’t sold 650 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total value of $57,518.50. Following the completion of the sale, the vice president now directly owns 4,950 shares in the company, valued at approximately $438,025.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul Molnar sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $95.04, for a total transaction of $475,200.00. Following the completion of the sale, the vice president now owns 42,563 shares of the company’s stock, valued at $4,045,187.52. The disclosure for this sale can be found here. Insiders sold a total of 23,805 shares of company stock valued at $2,446,531 over the last quarter. 0.41% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Neuberger Berman Group LLC lifted its stake in Diamondback Energy by 1.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 130,510 shares of the oil and natural gas company’s stock valued at $12,785,000 after purchasing an additional 1,813 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Diamondback Energy during the third quarter worth approximately $483,000. California Public Employees Retirement System lifted its position in Diamondback Energy by 2.6% during the third quarter. California Public Employees Retirement System now owns 186,161 shares of the oil and natural gas company’s stock worth $18,236,000 after acquiring an additional 4,661 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Diamondback Energy by 139.6% during the third quarter. Janney Montgomery Scott LLC now owns 18,546 shares of the oil and natural gas company’s stock worth $1,817,000 after acquiring an additional 10,806 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in Diamondback Energy by 350.9% during the third quarter. Cubist Systematic Strategies LLC now owns 9,920 shares of the oil and natural gas company’s stock worth $972,000 after acquiring an additional 7,720 shares during the last quarter.

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Diamondback Energy (NASDAQ:FANG) traded down $2.70 during mid-day trading on Friday, reaching $108.27. The company’s stock had a trading volume of 1,149,500 shares, compared to its average volume of 1,378,197. The company has a market cap of $10,530.00, a PE ratio of 23.76, a PEG ratio of 0.81 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.45 and a current ratio of 0.46. Diamondback Energy has a 52-week low of $82.77 and a 52-week high of $114.93.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.31. The firm had revenue of $301.30 million during the quarter, compared to analysts’ expectations of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The company’s revenue was up 112.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) EPS. equities analysts expect that Diamondback Energy will post 5.01 earnings per share for the current year.

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.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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