Barclays Issues Pessimistic Forecast for Diamondback Energy (NASDAQ:FANG) Stock Price

Diamondback Energy (NASDAQ:FANG) had its price objective lowered by analysts at Barclays from $185.00 to $178.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. Barclays‘s price objective would indicate a potential upside of 19.60% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Raymond James Financial reduced their price objective on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, August 20th. Melius Research initiated coverage on Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. UBS Group upped their price objective on Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Susquehanna reduced their target price on Diamondback Energy from $192.00 to $188.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Finally, William Blair started coverage on Diamondback Energy in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $192.55.

Diamondback Energy Price Performance

Shares of FANG stock opened at $148.83 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $43.08 billion, a price-to-earnings ratio of 10.57 and a beta of 1.04. The firm’s 50 day moving average is $142.83 and its 200-day moving average is $141.34. Diamondback Energy has a 1 year low of $114.00 and a 1 year high of $197.68.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm’s quarterly revenue was up 48.1% on a year-over-year basis. During the same period last year, the business posted $4.52 earnings per share. Sell-side analysts forecast that Diamondback Energy will post 15.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Uhlmann Price Securities LLC grew its holdings in shares of Diamondback Energy by 1.3% during the 2nd quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock worth $699,000 after purchasing an additional 67 shares in the last quarter. Investor s Fiduciary Advisor Network LLC lifted its position in shares of Diamondback Energy by 2.1% during the 1st quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company’s stock worth $569,000 after buying an additional 74 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in Diamondback Energy by 5.6% in the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock valued at $226,000 after buying an additional 75 shares in the last quarter. FourThought Financial Partners LLC grew its position in Diamondback Energy by 2.9% in the first quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock valued at $444,000 after acquiring an additional 78 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock worth $32,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It 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.