Diamondback Energy, Inc. (NASDAQ:FANG) has received an average recommendation of “Buy” from the twenty-nine ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and twenty-one have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $115.46.
FANG has been the topic of a number of research reports. Barclays PLC reaffirmed an “equal weight” rating and set a $110.00 target price (down from $123.00) on shares of Diamondback Energy in a research report on Saturday, April 22nd. Stifel Nicolaus started coverage on shares of Diamondback Energy in a report on Wednesday, April 12th. They set a “buy” rating and a $123.00 price objective on the stock. Roth Capital set a $130.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, May 2nd. BMO Capital Markets set a $120.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, May 2nd. Finally, BidaskClub lowered shares of Diamondback Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th.
Diamondback Energy (NASDAQ:FANG) traded down 0.42% on Friday, hitting $94.58. The company’s stock had a trading volume of 1,226,432 shares. Diamondback Energy has a 12 month low of $82.77 and a 12 month high of $114.00. The firm has a 50 day moving average of $90.35 and a 200 day moving average of $98.52. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 2012.34 and a beta of 1.06.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.44. The business had revenue of $267.40 million for the quarter, compared to analyst estimates of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The company’s quarterly revenue was up 137.7% compared to the same quarter last year. During the same period last year, the company posted $0.26 earnings per share. Equities research analysts forecast that Diamondback Energy will post $4.87 earnings per share for the current fiscal year.
In other news, Director Mark Lawrence Plaumann sold 1,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total transaction of $101,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven E. West acquired 2,400 shares of the stock in a transaction dated Wednesday, May 17th. The shares were bought at an average price of $103.45 per share, with a total value of $248,280.00. Following the completion of the purchase, the director now directly owns 2,400 shares of the company’s stock, valued at approximately $248,280. The disclosure for this purchase can be found here. Insiders own 0.41% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Korea Investment CORP bought a new stake in Diamondback Energy during the first quarter valued at approximately $5,175,000. Magee Thomson Investment Partners LLC increased its position in Diamondback Energy by 8.0% in the first quarter. Magee Thomson Investment Partners LLC now owns 90,100 shares of the oil and natural gas company’s stock worth $9,345,000 after buying an additional 6,660 shares in the last quarter. Covenant Asset Management LLC increased its position in Diamondback Energy by 21.4% in the first quarter. Covenant Asset Management LLC now owns 13,122 shares of the oil and natural gas company’s stock worth $1,361,000 after buying an additional 2,316 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Diamondback Energy during the first quarter worth about $180,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Diamondback Energy during the first quarter worth about $231,000. Institutional investors and hedge funds own 97.20% of the company’s stock.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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