Diamondback Energy (FANG) Now Covered by Mizuho

Equities research analysts at Mizuho began coverage on shares of Diamondback Energy (NASDAQ:FANG) in a note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $137.00 price target on the oil and natural gas company’s stock. Mizuho’s price target suggests a potential upside of 33.97% from the company’s previous close.

A number of other research analysts have also issued reports on FANG. Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Thursday, October 25th. BidaskClub upgraded shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 5th. Citigroup restated a “buy” rating and set a $155.00 price target on shares of Diamondback Energy in a research note on Tuesday, December 11th. Imperial Capital restated an “outperform” rating and set a $140.00 price target (down previously from $170.00) on shares of Diamondback Energy in a research note on Thursday, December 20th. Finally, Morgan Stanley cut their price target on shares of Diamondback Energy from $171.00 to $153.00 and set a “buy” rating on the stock in a research note on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $158.24.

NASDAQ FANG opened at $102.26 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 1.08. The company has a market cap of $10.14 billion, a P/E ratio of 19.29, a PEG ratio of 0.48 and a beta of 0.88. Diamondback Energy has a 52 week low of $85.19 and a 52 week high of $140.78.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.15. Diamondback Energy had a net margin of 33.63% and a return on equity of 10.75%. The business had revenue of $538.03 million for the quarter, compared to analyst estimates of $518.32 million. During the same quarter in the prior year, the business posted $1.33 EPS. Diamondback Energy’s revenue for the quarter was up 78.6% compared to the same quarter last year. Research analysts forecast that Diamondback Energy will post 6.64 earnings per share for the current fiscal year.

In other news, VP Hof Matthew Kaes Van’t sold 1,000 shares of the stock in a transaction on Thursday, December 20th. The shares were sold at an average price of $89.91, for a total value of $89,910.00. Following the sale, the vice president now owns 5,757 shares in the company, valued at $517,611.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in FANG. Capital International Investors purchased a new stake in Diamondback Energy during the third quarter worth $155,469,000. JPMorgan Chase & Co. boosted its holdings in Diamondback Energy by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 7,478,957 shares of the oil and natural gas company’s stock worth $1,011,079,000 after buying an additional 984,124 shares in the last quarter. Wexford Capital LP purchased a new stake in Diamondback Energy during the third quarter worth $116,483,000. Scout Investments Inc. purchased a new stake in Diamondback Energy during the fourth quarter worth $59,396,000. Finally, Capital World Investors boosted its holdings in Diamondback Energy by 4.8% during the third quarter. Capital World Investors now owns 11,931,000 shares of the oil and natural gas company’s stock worth $1,612,952,000 after buying an additional 542,279 shares in 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.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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