BMO Capital Markets Analysts Give Diamondback Energy, Inc. (FANG) a $110.00 Price Target

BMO Capital Markets set a $110.00 target price on Diamondback Energy, Inc. (NASDAQ:FANG) in a report released on Tuesday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

A number of other analysts also recently commented on FANG. BidaskClub upgraded Diamondback Energy from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. Wolfe Research started coverage on Diamondback Energy in a research note on Thursday, June 15th. They issued an outperform rating and a $120.00 target price on the stock. Scotiabank set a $95.00 target price on Diamondback Energy and gave the stock a buy rating in a research note on Saturday, July 1st. Barclays PLC restated a hold rating and issued a $93.00 target price on shares of Diamondback Energy in a research note on Friday, July 7th. Finally, TheStreet downgraded Diamondback Energy from a b- rating to a c rating in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $121.09.

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 analysts’ consensus estimates of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The firm had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company’s revenue was up 137.7% compared to the same quarter last year.

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In other news, insider Michael L. Hollis sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $100.00, for a total value of $100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hof Matthew Kaes Van’t sold 650 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total value of $57,518.50. Following the completion of the sale, the vice president now owns 4,950 shares of the company’s stock, valued at $438,025.50. The disclosure for this sale can be found here. Insiders have sold 11,805 shares of company stock valued at $1,129,501 in the last three months. Insiders own 0.41% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Johnson Financial Group Inc. purchased a new stake in shares of Diamondback Energy in the second quarter valued at approximately $102,000. Cubist Systematic Strategies LLC grew its position in shares of Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after purchasing an additional 700 shares in the last quarter. Sentry Investment Management LLC purchased a new stake in shares of Diamondback Energy in the second quarter valued at approximately $215,000. BB&T Securities LLC purchased a new stake in shares of Diamondback Energy in the second quarter valued at approximately $217,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Diamondback Energy by 1.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock valued at $224,000 after purchasing an additional 40 shares in the last quarter.

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.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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