Diamondback Energy (NASDAQ:FANG) Stock Rating Reaffirmed by Imperial Capital

Diamondback Energy (NASDAQ:FANG)‘s stock had its “outperform” rating restated by research analysts at Imperial Capital in a research report issued on Tuesday, The Fly reports. They presently have a $110.00 target price on the oil and natural gas company’s stock, up from their previous target price of $88.00. Imperial Capital’s price target would suggest a potential upside of 19.36% from the stock’s current price. Imperial Capital also issued estimates for Diamondback Energy’s Q4 2019 earnings at $1.82 EPS, FY2019 earnings at $6.37 EPS, Q1 2020 earnings at $2.25 EPS, Q2 2020 earnings at $2.20 EPS, Q3 2020 earnings at $2.35 EPS, Q4 2020 earnings at $2.52 EPS and FY2020 earnings at $9.31 EPS.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Diamondback Energy from $152.00 to $139.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. They noted that the move was a valuation call. TD Securities decreased their target price on shares of Diamondback Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Raymond James decreased their target price on shares of Diamondback Energy from $120.00 to $110.00 and set a “strong-buy” rating for the company in a research note on Thursday, November 7th. BidaskClub upgraded shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 8th. Finally, Johnson Rice cut shares of Diamondback Energy from a “buy” rating to an “accumulate” rating in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy presently has a consensus rating of “Buy” and an average price target of $133.71.

Shares of FANG traded up $0.85 during trading hours on Tuesday, hitting $92.16. The stock had a trading volume of 480,760 shares, compared to its average volume of 1,713,914. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.68 and a current ratio of 0.72. The firm has a 50-day moving average price of $87.51 and a 200 day moving average price of $91.68. Diamondback Energy has a fifty-two week low of $73.18 and a fifty-two week high of $114.14. The firm has a market capitalization of $14.64 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 0.81 and a beta of 0.85.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.24). Diamondback Energy had a net margin of 29.59% and a return on equity of 6.01%. The firm had revenue of $975.00 million during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm earned $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, analysts predict that Diamondback Energy will post 6.39 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Diamondback Energy by 1.6% during the second quarter. Vanguard Group Inc. now owns 17,698,267 shares of the oil and natural gas company’s stock worth $1,928,581,000 after buying an additional 275,764 shares in the last quarter. BlackRock Inc. grew its holdings in shares of 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. Corvex Management LP grew its holdings in shares of Diamondback Energy by 10.7% during the second quarter. Corvex Management LP now owns 2,935,307 shares of the oil and natural gas company’s stock worth $319,860,000 after buying an additional 283,785 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Diamondback Energy during the second quarter worth $303,291,000. Finally, Millennium Management LLC grew its holdings in shares of Diamondback Energy by 358.9% during the third quarter. Millennium Management LLC now owns 2,349,370 shares of the oil and natural gas company’s stock worth $211,231,000 after buying an additional 1,837,358 shares in the last quarter. 98.48% 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.

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The Fly

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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