Diamondback Energy (NASDAQ:FANG) received a $137.00 target price from investment analysts at KeyCorp in a report issued on Sunday. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. KeyCorp’s target price suggests a potential upside of 7.39% from the company’s current price.
Several other equities analysts also recently commented on FANG. Roth Capital boosted their target price on shares of Diamondback Energy from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday. Mizuho set a $148.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, January 16th. Northland Securities reissued a “buy” rating and issued a $125.00 target price on shares of Diamondback Energy in a report on Tuesday, September 26th. Finally, Wells Fargo & Co set a $120.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, October 17th. Three research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $129.08.
Diamondback Energy (FANG) traded up $0.34 during mid-day trading on Friday, hitting $127.57. 585,300 shares of the stock traded hands, compared to its average volume of 1,215,023. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $132.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.46 and a quick ratio of 0.45. The stock has a market capitalization of $12,780.00, a P/E ratio of 30.89, a PEG ratio of 0.74 and a beta of 1.08.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.02 by $0.31. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The firm had revenue of $301.30 million for the quarter, compared to the consensus estimate of $296.53 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The company’s quarterly revenue was up 112.0% compared to the same quarter last year. equities analysts expect that Diamondback Energy will post 5.09 EPS for the current fiscal year.
In other news, insider Michael L. Hollis sold 3,000 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total value of $388,020.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Travis D. Stice sold 35,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $125.00, for a total transaction of $4,375,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,400 shares of company stock worth $9,544,350. 0.41% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in FANG. Warburg Pincus LLC raised its stake in shares of Diamondback Energy by 132.4% in the second quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock valued at $580,188,000 after acquiring an additional 3,721,519 shares during the period. Capital World Investors grew its holdings in shares of Diamondback Energy by 98.1% in the second quarter. Capital World Investors now owns 2,516,497 shares of the oil and natural gas company’s stock worth $223,490,000 after purchasing an additional 1,246,072 shares during the last quarter. Boston Partners grew its holdings in shares of Diamondback Energy by 18.1% in the third quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock worth $771,379,000 after purchasing an additional 1,208,864 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Diamondback Energy by 159.6% in the second quarter. Voya Investment Management LLC now owns 1,320,826 shares of the oil and natural gas company’s stock worth $117,302,000 after purchasing an additional 811,950 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Diamondback Energy by 8.9% in the second quarter. Vanguard Group Inc. now owns 7,988,153 shares of the oil and natural gas company’s stock worth $709,428,000 after purchasing an additional 651,353 shares during the last quarter.
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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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