Diamondback Energy, Inc. (NASDAQ:FANG) Price Target Increased to $105.00 by Analysts at Barclays PLC
Diamondback Energy, Inc. (NASDAQ:FANG) had its price target upped by Barclays PLC from $93.00 to $105.00 in a report released on Tuesday. The firm currently has an equal weight rating on the oil and natural gas company’s stock.
Several other research firms also recently weighed in on FANG. BidaskClub raised shares of Diamondback Energy from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. Roth Capital boosted their target price on shares of Diamondback Energy from $120.00 to $130.00 and gave the stock a buy rating in a research report on Thursday, July 27th. BMO Capital Markets set a $100.00 target price on shares of Diamondback Energy and gave the stock a buy rating in a research report on Tuesday, August 1st. Northland Securities set a $125.00 target price on shares of Diamondback Energy and gave the stock a buy rating in a research report on Monday, July 17th. Finally, Credit Suisse Group reissued an outperform rating and issued a $151.00 target price on shares of Diamondback Energy in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $115.92.
Diamondback Energy (NASDAQ FANG) traded up 0.88% during trading on Tuesday, reaching $92.87. 1,182,586 shares of the company’s stock traded hands. The stock has a market capitalization of $9.11 billion, a P/E ratio of 25.53 and a beta of 1.06. The stock has a 50-day moving average price of $91.49 and a 200 day moving average price of $98.25. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $114.00.
Diamondback Energy (NASDAQ:FANG) last released its 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. The company had revenue of $267.40 million during the quarter, compared to the consensus estimate of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The company’s revenue was up 137.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 EPS. Equities research analysts expect that Diamondback Energy will post $4.88 earnings per share for the current year.
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In other news, Director Steven E. West bought 2,400 shares of Diamondback Energy stock in a transaction on Wednesday, May 17th. The stock was purchased at an average cost of $103.45 per share, with a total value of $248,280.00. Following the purchase, the director now directly owns 2,400 shares of the company’s stock, valued at approximately $248,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of FANG. Karp Capital Management Corp bought a new stake in shares of Diamondback Energy during the first quarter worth $2,207,000. Investment House LLC raised its stake in shares of Diamondback Energy by 228.2% in the first quarter. Investment House LLC now owns 9,845 shares of the oil and natural gas company’s stock worth $1,021,000 after buying an additional 6,845 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Diamondback Energy by 5.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 268,944 shares of the oil and natural gas company’s stock worth $27,894,000 after buying an additional 14,331 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of Diamondback Energy during the first quarter worth $201,000. Finally, Nicholas Investment Partners LP raised its stake in shares of Diamondback Energy by 39.4% in the first quarter. Nicholas Investment Partners LP now owns 34,856 shares of the oil and natural gas company’s stock worth $3,615,000 after buying an additional 9,849 shares in the last quarter. 97.20% of the stock is owned by hedge funds and other institutional investors.
About Diamondback Energy
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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