Diamondback Energy (FANG) Sets New 52-Week High at $130.99

Diamondback Energy Inc (NASDAQ:FANG) shares hit a new 52-week high during trading on Monday . The stock traded as high as $130.99 and last traded at $129.98, with a volume of 873600 shares traded. The stock had previously closed at $130.13.

Several brokerages have commented on FANG. Northland Securities reaffirmed a “buy” rating and set a $125.00 target price on shares of Diamondback Energy in a report on Tuesday, September 26th. Wells Fargo & Co set a $120.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, October 17th. SunTrust Banks set a $120.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, October 16th. Piper Jaffray Companies reissued a “buy” rating and issued a $138.00 price objective on shares of Diamondback Energy in a research report on Tuesday. Finally, Williams Capital reissued a “hold” rating and issued a $110.00 price objective (up from $105.00) on shares of Diamondback Energy in a research report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $125.42.

The company has a market capitalization of $12,510.00, a PE ratio of 30.87, a P/E/G ratio of 0.74 and a beta of 1.08. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.31. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The business had revenue of $301.30 million during the quarter, compared to analyst estimates of $296.53 million. During the same period in the previous year, the company posted ($0.03) EPS. The firm’s revenue was up 112.0% compared to the same quarter last year. research analysts anticipate that Diamondback Energy Inc will post 5.07 EPS for the current fiscal year.

In other news, insider Michael L. Hollis sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 35,000 shares of the business’s stock in a transaction that occurred on 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 have sold a total of 78,400 shares of company stock valued at $9,361,210 in the last quarter. Company insiders own 0.41% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in FANG. Schwab Charles Investment Management Inc. boosted its stake in shares of Diamondback Energy by 14.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 288,899 shares of the oil and natural gas company’s stock worth $25,658,000 after buying an additional 37,101 shares during the last quarter. Comerica Bank boosted its stake in shares of Diamondback Energy by 1.6% in the 2nd quarter. Comerica Bank now owns 12,927 shares of the oil and natural gas company’s stock worth $1,205,000 after buying an additional 201 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Diamondback Energy by 11.5% in the 2nd quarter. Prudential Financial Inc. now owns 5,450 shares of the oil and natural gas company’s stock worth $484,000 after buying an additional 560 shares during the last quarter. Westpac Banking Corp boosted its stake in shares of Diamondback Energy by 6.6% in the 2nd quarter. Westpac Banking Corp now owns 6,344 shares of the oil and natural gas company’s stock worth $563,000 after buying an additional 391 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Diamondback Energy by 12.3% in the 2nd quarter. Franklin Resources Inc. now owns 367,810 shares of the oil and natural gas company’s stock worth $32,656,000 after buying an additional 40,284 shares during the last quarter.

COPYRIGHT VIOLATION NOTICE: “Diamondback Energy (FANG) Sets New 52-Week High at $130.99” was first posted by Markets Daily and is owned by of Markets Daily. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.themarketsdaily.com/2018/01/10/diamondback-energy-fang-sets-new-52-week-high-at-130-99.html.

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.

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply