Diamondback Energy (NASDAQ:FANG) had its target price lowered by research analysts at Imperial Capital from $100.00 to $88.00 in a note issued to investors on Thursday, Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the oil and natural gas company’s stock. Imperial Capital’s target price indicates a potential upside of 16.66% from the stock’s previous close. Imperial Capital also issued estimates for Diamondback Energy’s Q4 2019 earnings at $1.83 EPS, FY2019 earnings at $6.38 EPS, Q1 2020 earnings at $2.21 EPS, Q2 2020 earnings at $2.17 EPS, Q3 2020 earnings at $2.31 EPS and Q4 2020 earnings at $2.48 EPS.
Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Diamondback Energy from $152.00 to $139.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. They noted that the move was a valuation call. Piper Jaffray Companies set a $156.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Friday, August 16th. Citigroup dropped their price objective on Diamondback Energy from $135.00 to $118.00 and set a “buy” rating for the company in a report on Monday, September 23rd. ValuEngine upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Williams Capital reiterated a “buy” rating and issued a $165.00 price objective on shares of Diamondback Energy in a report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $141.05.
NASDAQ FANG traded down $0.13 during trading on Thursday, reaching $75.43. The company’s stock had a trading volume of 2,379,700 shares, compared to its average volume of 1,849,165. The firm has a fifty day moving average of $86.38 and a 200 day moving average of $98.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.82 and a quick ratio of 0.79. Diamondback Energy has a one year low of $74.25 and a one year high of $115.97. The stock has a market capitalization of $14.71 billion, a PE ratio of 12.85, a P/E/G ratio of 0.47 and a beta of 0.78.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.24). Diamondback Energy had a return on equity of 6.09% and a net margin of 29.59%. The company had revenue of $975.00 million for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $1.67 earnings per share. Diamondback Energy’s revenue was up 81.6% compared to the same quarter last year. Research analysts expect that Diamondback Energy will post 6.75 earnings per share for the current fiscal year.
In other news, EVP Randall J. Holder sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $103.21, for a total value of $309,630.00. Following the completion of the transaction, the executive vice president now owns 8,448 shares in the company, valued at approximately $871,918.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael P. Cross sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $104.75, for a total value of $104,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,000 shares of company stock valued at $1,621,690. 0.47% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of FANG. Archford Capital Strategies LLC increased its position in Diamondback Energy by 1,100.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after buying an additional 220 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Diamondback Energy during the 2nd quarter valued at approximately $32,000. Commonwealth Bank of Australia increased its position in Diamondback Energy by 81.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 152 shares in the last quarter. FNY Investment Advisers LLC increased its position in Diamondback Energy by 4,118.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 464 shares of the oil and natural gas company’s stock valued at $41,000 after buying an additional 453 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new position in Diamondback Energy during the 2nd quarter valued at approximately $44,000. 99.27% of the stock is owned by 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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