Diamondback Energy (NASDAQ:FANG) PT Lowered to $88.00

Diamondback Energy (NASDAQ:FANG) had its price objective dropped by investment analysts at Imperial Capital from $100.00 to $88.00 in a research note issued on Thursday, Briefing.com Automated Import reports. The firm currently has an “outperform” rating on the oil and natural gas company’s stock. Imperial Capital’s price objective would suggest a potential upside of 16.66% from the company’s previous close. Imperial Capital also issued estimates for Diamondback Energy’s Q4 2019 earnings at $1.83 EPS, FY2019 earnings at $6.38 EPS, Q1 2020 earnings at $2.21 EPS, Q2 2020 earnings at $2.17 EPS, Q3 2020 earnings at $2.31 EPS and Q4 2020 earnings at $2.48 EPS.

FANG has been the topic of a number of other reports. ValuEngine upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Susquehanna Bancshares lowered their price target on Diamondback Energy from $125.00 to $130.00 in a research note on Tuesday, October 1st. Citigroup lowered their price target on Diamondback Energy from $135.00 to $118.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Northland Securities reaffirmed a “buy” rating and issued a $130.00 price target on shares of Diamondback Energy in a research note on Wednesday. Finally, Piper Jaffray Companies set a $156.00 price target on Diamondback Energy and gave the company a “buy” rating in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy has an average rating of “Buy” and an average price target of $141.05.

FANG stock traded down $0.13 on Thursday, reaching $75.43. 2,379,700 shares of the company were exchanged, compared to its average volume of 1,849,165. The stock’s fifty day moving average price is $86.38 and its 200 day moving average price is $98.30. The firm has a market capitalization of $14.71 billion, a PE ratio of 12.85, a PEG ratio of 0.47 and a beta of 0.78. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.82 and a quick ratio of 0.79. Diamondback Energy has a 12 month low of $74.25 and a 12 month high of $115.97.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.24). Diamondback Energy had a net margin of 29.59% and a return on equity of 6.09%. The business had revenue of $975.00 million for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. The business’s revenue for the quarter was up 81.6% on a year-over-year basis. As a group, research analysts expect that Diamondback Energy will post 6.75 EPS for the current fiscal year.

In other Diamondback Energy news, VP Russell Pantermuehl sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $100.25, for a total transaction of $501,250.00. Following the completion of the sale, the vice president now owns 105,107 shares of the company’s stock, valued at approximately $10,536,976.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Randall J. Holder sold 3,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $100.00, for a total value of $300,000.00. Following the sale, the executive vice president now directly owns 11,448 shares of the company’s stock, valued at approximately $1,144,800. The disclosure for this sale can be found here. In the last three months, insiders sold 16,000 shares of company stock valued at $1,621,690. 0.47% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Nuveen Asset Management LLC bought a new stake in shares of Diamondback Energy during the second quarter valued at approximately $303,291,000. BlackRock Inc. grew its holdings in Diamondback Energy by 4.7% during the second quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock worth $1,167,931,000 after buying an additional 485,647 shares in the last quarter. Balyasny Asset Management LLC grew its holdings in Diamondback Energy by 14,382.5% during the second quarter. Balyasny Asset Management LLC now owns 468,943 shares of the oil and natural gas company’s stock worth $51,101,000 after buying an additional 465,705 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Diamondback Energy by 47.5% during the second quarter. Point72 Asset Management L.P. now owns 1,406,516 shares of the oil and natural gas company’s stock worth $153,268,000 after buying an additional 453,267 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Diamondback Energy by 43.2% during the second quarter. Bessemer Group Inc. now owns 941,887 shares of the oil and natural gas company’s stock worth $102,638,000 after buying an additional 284,343 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

Read More: 52-Week High/Low Prices For Stock Selection

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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.