Diamondback Energy (NASDAQ:FANG) had its price target upped by equities researchers at Mizuho from $56.00 to $61.00 in a research report issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Mizuho’s price objective suggests a potential upside of 42.06% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Siebert Williams Shank reiterated a “buy” rating and issued a $62.00 price target on shares of Diamondback Energy in a report on Tuesday, March 31st. Raymond James increased their price target on shares of Diamondback Energy from $42.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Roth Capital upgraded shares of Diamondback Energy from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, April 28th. UBS Group dropped their target price on shares of Diamondback Energy from $135.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, March 31st. Finally, Stephens restated a “buy” rating and set a $44.00 target price on shares of Diamondback Energy in a report on Friday, March 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the stock. Diamondback Energy presently has a consensus rating of “Buy” and a consensus price target of $69.19.

Shares of FANG traded up $0.05 during trading hours on Thursday, reaching $42.94. The company had a trading volume of 1,755,495 shares, compared to its average volume of 3,394,085. The firm has a 50 day simple moving average of $36.53 and a 200-day simple moving average of $62.92. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of -110.10, a PEG ratio of 0.86 and a beta of 2.24. Diamondback Energy has a 12-month low of $14.55 and a 12-month high of $111.84.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.16. The business had revenue of $899.00 million during the quarter, compared to the consensus estimate of $968.57 million. Diamondback Energy had a negative net margin of 1.05% and a positive return on equity of 7.03%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 EPS. Sell-side analysts forecast that Diamondback Energy will post 2.27 earnings per share for the current year.

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t purchased 4,750 shares of Diamondback Energy stock in a transaction on Thursday, March 19th. The shares were purchased at an average cost of $17.23 per share, with a total value of $81,842.50. Following the completion of the transaction, the chief financial officer now directly owns 52,130 shares in the company, valued at approximately $898,199.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Travis D. Stice purchased 17,146 shares of Diamondback Energy stock in a transaction on Tuesday, March 10th. The shares were acquired at an average cost of $28.40 per share, for a total transaction of $486,946.40. The disclosure for this purchase can be found here. 0.47% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. CNB Bank bought a new stake in Diamondback Energy during the fourth quarter valued at $30,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Diamondback Energy during the first quarter valued at $35,000. Ancora Advisors LLC acquired a new position in shares of Diamondback Energy during the fourth quarter valued at $37,000. Capital Wealth Alliance LLC acquired a new position in shares of Diamondback Energy during the fourth quarter valued at $38,000. Finally, Atlas Capital Advisors LLC boosted its holdings in shares of Diamondback Energy by 53.1% during the first quarter. Atlas Capital Advisors LLC now owns 1,797 shares of the oil and natural gas company’s stock valued at $47,000 after acquiring an additional 623 shares during the period. 96.00% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

Further Reading: Earnings Per Share

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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