Diamondback Energy (NASDAQ:FANG) had its price target cut by Morgan Stanley from $151.00 to $143.00 in a research note published on Friday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the oil and natural gas company’s stock.
Several other research analysts also recently issued reports on the stock. MKM Partners started coverage on shares of Diamondback Energy in a report on Friday, June 28th. They set a buy rating on the stock. ValuEngine downgraded shares of Yext from a strong-buy rating to a buy rating in a report on Friday, May 10th. TD Securities boosted their price objective on shares of Diamondback Energy from $155.00 to $160.00 and gave the stock an action list buy rating in a report on Thursday, June 20th. Bank of America reissued an underperform rating and issued a GBX 55 ($0.72) target price on shares of Lloyds Banking Group in a research note on Tuesday, May 21st. Finally, Roth Capital lowered their target price on shares of Diamondback Energy from $166.00 to $150.00 and set a buy rating on the stock in a research note on Friday, June 7th. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $158.48.
NASDAQ:FANG opened at $106.41 on Friday. The stock’s 50-day moving average is $104.03. Diamondback Energy has a 52-week low of $85.19 and a 52-week high of $140.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.59 and a current ratio of 0.62. The company has a market cap of $18.25 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 0.68 and a beta of 0.85.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The company had revenue of $864.00 million for the quarter, compared to the consensus estimate of $893.16 million. During the same quarter in the previous year, the firm posted $1.64 EPS. The business’s revenue was up 80.4% compared to the same quarter last year. As a group, research analysts forecast that Diamondback Energy will post 7.95 EPS for the current fiscal year.
In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $107.47, for a total transaction of $161,205.00. Following the sale, the chief financial officer now directly owns 27,465 shares of the company’s stock, valued at $2,951,663.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $112.18, for a total transaction of $560,900.00. Following the transaction, the vice president now owns 117,107 shares in the company, valued at $13,137,063.26. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock worth $1,258,505 over the last ninety days. Insiders own 0.47% of the company’s stock.
Several hedge funds have recently made changes to their positions in FANG. Ranger Investment Management L.P. acquired a new position in shares of Diamondback Energy during the fourth quarter worth approximately $25,000. Berman Capital Advisors LLC lifted its position in shares of Diamondback Energy by 180.8% during the first quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 188 shares in the last quarter. Manchester Capital Management LLC acquired a new position in shares of Diamondback Energy during the first quarter worth approximately $34,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of Diamondback Energy by 136.7% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 400 shares of the oil and natural gas company’s stock worth $37,000 after purchasing an additional 231 shares in the last quarter. Finally, Somerset Trust Co lifted its position in shares of Diamondback Energy by 162.6% during the first quarter. Somerset Trust Co now owns 617 shares of the oil and natural gas company’s stock worth $63,000 after purchasing an additional 382 shares in the last quarter. Institutional investors own 99.10% of the company’s stock.
About Diamondback Energy
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: Green Investing
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