Diamondback Energy (FANG) PT Raised to $163.00 at Morgan Stanley

Diamondback Energy (NASDAQ:FANG) had its price objective hoisted by investment analysts at Morgan Stanley from $161.00 to $163.00 in a note issued to investors on Thursday. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s price target would suggest a potential upside of 35.44% from the company’s previous close.

FANG has been the topic of a number of other reports. Stephens reissued a “buy” rating and issued a $160.00 price target on shares of Diamondback Energy in a report on Tuesday, February 6th. BidaskClub downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Stifel Nicolaus set a $169.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, April 10th. Piper Jaffray Companies reissued a “buy” rating and issued a $141.00 price target on shares of Diamondback Energy in a report on Friday, April 6th. Finally, UBS began coverage on shares of Diamondback Energy in a report on Wednesday, March 7th. They issued a “buy” rating and a $155.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Diamondback Energy has a consensus rating of “Buy” and a consensus target price of $142.08.

Shares of Diamondback Energy opened at $120.35 on Thursday, Marketbeat Ratings reports. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $138.14. The stock has a market capitalization of $12.78 billion, a PE ratio of 22.71, a PEG ratio of 0.71 and a beta of 0.84. The company has a current ratio of 0.53, a quick ratio of 0.52 and a debt-to-equity ratio of 0.30.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. Diamondback Energy had a net margin of 35.09% and a return on equity of 10.53%. The firm had revenue of $480.20 million for the quarter, compared to the consensus estimate of $445.78 million. During the same period in the prior year, the firm posted $1.04 earnings per share. The company’s revenue for the quarter was up 104.1% on a year-over-year basis. analysts anticipate that Diamondback Energy will post 6.56 earnings per share for the current year.

In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $137.00, for a total transaction of $274,000.00. Following the transaction, the vice president now directly owns 91,532 shares in the company, valued at $12,539,884. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Teresa L. Dick sold 2,500 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $130.97, for a total transaction of $327,425.00. The disclosure for this sale can be found here. Insiders have sold 10,000 shares of company stock worth $1,300,275 over the last quarter. Company insiders own 0.57% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of FANG. Bank of Montreal Can grew its holdings in shares of Diamondback Energy by 17.2% in the fourth quarter. Bank of Montreal Can now owns 89,719 shares of the oil and natural gas company’s stock worth $11,327,000 after purchasing an additional 13,167 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Diamondback Energy by 7.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 323,946 shares of the oil and natural gas company’s stock worth $40,899,000 after purchasing an additional 21,908 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Diamondback Energy by 346.9% in the fourth quarter. State of Alaska Department of Revenue now owns 8,670 shares of the oil and natural gas company’s stock worth $1,094,000 after purchasing an additional 6,730 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Diamondback Energy by 42.6% in the fourth quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock worth $164,000 after purchasing an additional 389 shares during the last quarter. Finally, Peregrine Capital Management LLC grew its holdings in shares of Diamondback Energy by 10.2% in the fourth quarter. Peregrine Capital Management LLC now owns 172,290 shares of the oil and natural gas company’s stock worth $21,752,000 after purchasing an additional 15,992 shares during the last quarter.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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