Diamondback Energy (NASDAQ:FANG) Upgraded at Roth Mkm

Diamondback Energy (NASDAQ:FANG) was upgraded by equities research analysts at Roth Mkm from a “hold” rating to a “strong-buy” rating in a report released on Sunday,Zacks.com reports.

A number of other analysts have also recently weighed in on FANG. Wall Street Zen upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Freedom Capital upgraded shares of Diamondback Energy to a “strong-buy” rating in a research note on Tuesday, March 10th. Sanford C. Bernstein increased their target price on shares of Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Morgan Stanley raised their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Finally, Susquehanna lifted their price target on shares of Diamondback Energy from $231.00 to $245.00 and gave the stock a “positive” rating in a report on Wednesday, May 6th. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $221.37.

Diamondback Energy Trading Up 2.3%

FANG opened at $187.80 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The firm has a market cap of $52.83 billion, a price-to-earnings ratio of 218.37 and a beta of 0.42. Diamondback Energy has a 12 month low of $134.30 and a 12 month high of $214.51. The stock has a fifty day moving average price of $195.06 and a 200-day moving average price of $177.02.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the company earned $4.54 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Diamondback Energy will post 19.92 earnings per share for the current fiscal year.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the sale, the executive vice president owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. The trade was a 9.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Alvin Meloy sold 83,334 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the transaction, the director owned 851,530 shares in the company, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 121,548 shares of company stock worth $23,146,460 in the last quarter. 0.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Diamondback Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. Deseret Mutual Benefit Administrators increased its holdings in shares of Diamondback Energy by 31.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock valued at $41,000 after purchasing an additional 66 shares during the period. Scotia Capital Inc. lifted its holdings in shares of Diamondback Energy by 0.3% during the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after purchasing an additional 68 shares during the period. Equitable Trust Co. lifted its holdings in shares of Diamondback Energy by 0.7% during the third quarter. Equitable Trust Co. now owns 10,030 shares of the oil and natural gas company’s stock worth $1,435,000 after purchasing an additional 73 shares during the period. Townsend & Associates Inc lifted its holdings in shares of Diamondback Energy by 0.5% during the fourth quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock worth $2,161,000 after purchasing an additional 75 shares during the period. Finally, Capital Financial Group Inc. Co. ADV boosted its position in Diamondback Energy by 2.1% in the first quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock valued at $709,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.