Royal Bank of Canada started coverage on shares of Diamondback Energy (NASDAQ:FANG) in a research note published on Thursday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $156.00 price target on the oil and natural gas company’s stock.
A number of other brokerages have also recently issued reports on FANG. ValuEngine cut shares of Yext from a strong-buy rating to a buy rating in a research note on Friday, May 10th. Roth Capital cut their price objective on shares of Diamondback Energy from $166.00 to $150.00 and set a buy rating for the company in a research note on Friday, June 7th. TD Securities upped their price objective on shares of Diamondback Energy from $155.00 to $160.00 and gave the company an action list buy rating in a research note on Thursday, June 20th. MKM Partners initiated coverage on shares of Diamondback Energy in a research note on Friday, June 28th. They issued a buy rating for the company. Finally, Credit Suisse Group set a €21.78 ($25.33) price objective on shares of Deutsche Lufthansa and gave the company a buy rating in a research note on Monday, June 17th. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the stock. Diamondback Energy currently has an average rating of Buy and a consensus target price of $158.71.
Shares of Diamondback Energy stock opened at $104.61 on Thursday. Diamondback Energy has a 52-week low of $85.19 and a 52-week high of $140.78. The stock has a market cap of $17.23 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 0.65 and a beta of 0.85. The firm has a fifty day simple moving average of $104.08. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 0.32.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $893.16 million. During the same quarter in the prior year, the company earned $1.64 EPS. The firm’s revenue was up 80.4% on a year-over-year basis. On average, analysts predict that Diamondback Energy will post 7.8 earnings per share for the current year.
In other news, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $107.47, for a total value of $161,205.00. Following the completion of the sale, the chief financial officer now directly owns 27,465 shares of the company’s stock, valued at approximately $2,951,663.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Russell Pantermuehl sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $107.28, for a total transaction of $536,400.00. Following the completion of the sale, the vice president now directly owns 112,107 shares of the company’s stock, valued at $12,026,838.96. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock valued at $1,258,505 in the last three months. 0.47% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Diamondback Energy by 11.4% in the 1st quarter. JPMorgan Chase & Co. now owns 13,528,463 shares of the oil and natural gas company’s stock worth $1,373,546,000 after purchasing an additional 1,388,245 shares during the period. BlackRock Inc. lifted its position in shares of Diamondback Energy by 0.6% in the 1st quarter. BlackRock Inc. now owns 10,232,287 shares of the oil and natural gas company’s stock worth $1,038,884,000 after purchasing an additional 59,458 shares during the period. Boston Partners lifted its position in shares of Diamondback Energy by 16.5% in the 1st quarter. Boston Partners now owns 3,990,944 shares of the oil and natural gas company’s stock worth $405,201,000 after purchasing an additional 566,290 shares during the period. Geode Capital Management LLC lifted its position in shares of Diamondback Energy by 128.1% in the 4th quarter. Geode Capital Management LLC now owns 2,040,175 shares of the oil and natural gas company’s stock worth $188,797,000 after purchasing an additional 1,145,573 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Diamondback Energy by 2.0% in the 1st quarter. Northern Trust Corp now owns 1,669,674 shares of the oil and natural gas company’s stock worth $169,522,000 after purchasing an additional 33,169 shares during the period. 99.10% of the stock is 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.
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