Morgan Stanley set a $171.00 target price on Diamondback Energy (NASDAQ:FANG) in a research note published on Friday morning. The firm currently has a buy rating on the oil and natural gas company’s stock.

Several other research firms also recently commented on FANG. Oppenheimer assumed coverage on Diamondback Energy in a report on Wednesday, October 3rd. They set an outperform rating and a $166.00 price objective for the company. BidaskClub upgraded Diamondback Energy from a buy rating to a strong-buy rating in a report on Friday, October 5th. Piper Jaffray Companies restated an overweight rating on shares of Diamondback Energy in a report on Friday, September 28th. TD Securities set a $175.00 price objective on Diamondback Energy and gave the company a buy rating in a report on Saturday, August 11th. Finally, ValuEngine upgraded Diamondback Energy from a hold rating to a buy rating in a report on Wednesday, September 26th. Four equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. Diamondback Energy has a consensus rating of Buy and an average price target of $154.83.

Shares of NASDAQ FANG traded up $1.49 during midday trading on Friday, hitting $126.12. 1,604,792 shares of the stock traded hands, compared to its average volume of 1,644,915. The company has a market cap of $13.33 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 0.81 and a beta of 0.59. Diamondback Energy has a one year low of $98.57 and a one year high of $140.78. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.33.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.64 by ($0.05). The firm had revenue of $526.30 million for the quarter, compared to the consensus estimate of $479.57 million. Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. The company’s revenue was up 95.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. On average, equities research analysts anticipate that Diamondback Energy will post 6.37 earnings per share for the current year.

In other Diamondback Energy news, insider Michael L. Hollis sold 5,000 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $128.85, for a total value of $644,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Russell Pantermuehl sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total value of $255,600.00. Following the completion of the transaction, the vice president now owns 89,532 shares of the company’s stock, valued at approximately $11,442,189.60. The disclosure for this sale can be found here. Insiders have sold 7,140 shares of company stock valued at $916,735 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in Diamondback Energy by 1.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,594,112 shares of the oil and natural gas company’s stock valued at $209,737,000 after purchasing an additional 29,280 shares during the period. Bank of America Corp DE lifted its position in shares of Diamondback Energy by 40.4% during the 2nd quarter. Bank of America Corp DE now owns 926,005 shares of the oil and natural gas company’s stock valued at $121,835,000 after buying an additional 266,321 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Diamondback Energy by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 733,515 shares of the oil and natural gas company’s stock valued at $96,505,000 after buying an additional 109,099 shares during the last quarter. Carillon Tower Advisers Inc. lifted its position in shares of Diamondback Energy by 4.5% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 628,693 shares of the oil and natural gas company’s stock valued at $82,716,000 after buying an additional 26,818 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Diamondback Energy by 0.4% during the 2nd quarter. Northern Trust Corp now owns 541,127 shares of the oil and natural gas company’s stock valued at $71,196,000 after buying an additional 2,284 shares during the last quarter.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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