BMO Capital Markets set a $100.00 target price on Diamondback Energy, Inc. (NASDAQ:FANG) in a research report sent to investors on Tuesday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.
FANG has been the subject of several other research reports. Zacks Investment Research cut Diamondback Energy from a hold rating to a sell rating in a research note on Tuesday, July 11th. BidaskClub upgraded Diamondback Energy from a strong sell rating to a sell rating in a research note on Wednesday, July 5th. Credit Suisse Group restated an outperform rating and issued a $151.00 price target on shares of Diamondback Energy in a research note on Friday, June 2nd. Barclays PLC restated an equal weight rating and issued a $110.00 price target (down previously from $123.00) on shares of Diamondback Energy in a research note on Saturday, April 22nd. Finally, Stifel Nicolaus started coverage on Diamondback Energy in a research note on Wednesday, April 12th. They issued a buy rating and a $123.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $115.30.
Shares of Diamondback Energy (NASDAQ:FANG) traded up 6.15% during midday trading on Tuesday, hitting $95.21. The stock had a trading volume of 2,052,934 shares. The stock’s 50-day moving average is $89.98 and its 200-day moving average is $98.63. Diamondback Energy has a 12 month low of $82.77 and a 12 month high of $114.00. The stock has a market cap of $9.34 billion, a PE ratio of 2025.74 and a beta of 1.06.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.74% and a net margin of 38.24%. The firm had revenue of $267.40 million during the quarter, compared to analysts’ expectations of $258.75 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s revenue was up 137.7% on a year-over-year basis. Equities analysts anticipate that Diamondback Energy will post $4.37 EPS for the current year.
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In other Diamondback Energy news, Director Steven E. West acquired 2,400 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was purchased 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 in the company, valued at approximately $248,280. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael L. Hollis sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in Diamondback Energy by 26.2% in the first quarter. Toronto Dominion Bank now owns 969 shares of the oil and natural gas company’s stock worth $100,000 after buying an additional 201 shares during the period. Winch Advisory Services LLC acquired a new position in Diamondback Energy during the first quarter worth $105,000. State of Alaska Department of Revenue acquired a new position in Diamondback Energy during the first quarter worth $180,000. Stevens Capital Management LP acquired a new position in Diamondback Energy during the first quarter worth $201,000. Finally, Teza Capital Management LLC acquired a new position in Diamondback Energy during the first quarter worth $202,000. 98.39% of the stock is owned by hedge funds and other institutional investors.
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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