Diamondback Energy (NASDAQ:FANG – Get Free Report)‘s stock had its “outperform” rating restated by Royal Bank Of Canada in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $240.00 price objective on the oil and natural gas company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 17.68% from the stock’s previous close.
Several other equities analysts also recently commented on the company. Weiss Ratings raised Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Wall Street Zen raised Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. UBS Group increased their price target on Diamondback Energy from $243.00 to $253.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. Capital One Financial increased their price target on Diamondback Energy from $272.00 to $283.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. increased their price target on Diamondback Energy from $211.00 to $233.00 in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $226.71.
View Our Latest Analysis on Diamondback Energy
Diamondback Energy Stock Performance
Shares of Diamondback Energy stock traded up $8.35 on Wednesday, hitting $203.95. The stock had a trading volume of 2,573,405 shares, compared to its average volume of 2,637,231. Diamondback Energy has a twelve month low of $137.03 and a twelve month high of $216.90. The business’s 50 day moving average is $197.24 and its two-hundred day moving average is $194.22. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The stock has a market cap of $57.11 billion, a price-to-earnings ratio of 39.76 and a beta of 0.55.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last posted its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating the consensus estimate of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%. The company had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the business earned $2.38 earnings per share. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. Analysts forecast that Diamondback Energy will post 20.41 EPS for the current year.
Insiders Place Their Bets
In other Diamondback Energy news, Director Charles Meloy sold 33,333 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $183.74, for a total value of $6,124,605.42. Following the sale, the director owned 759,864 shares of the company’s stock, valued at approximately $139,617,411.36. This trade represents a 4.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis Stice sold 75,000 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $204.31, for a total value of $15,323,250.00. Following the completion of the sale, the director directly owned 49,727 shares in the company, valued at approximately $10,159,723.37. This represents a 60.13% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 141,666 shares of company stock worth $28,061,456. Company insiders own 0.64% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of FANG. Vontobel Holding Ltd. lifted its stake in shares of Diamondback Energy by 31.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 2,739 shares of the oil and natural gas company’s stock valued at $503,000 after acquiring an additional 650 shares during the last quarter. Wealth Intelligence LLC lifted its stake in shares of Diamondback Energy by 3.0% in the 3rd quarter. Wealth Intelligence LLC now owns 2,444 shares of the oil and natural gas company’s stock valued at $449,000 after acquiring an additional 72 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Diamondback Energy by 11.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,651 shares of the oil and natural gas company’s stock valued at $487,000 after acquiring an additional 267 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. lifted its stake in shares of Diamondback Energy by 1.2% in the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 16,288 shares of the oil and natural gas company’s stock valued at $2,994,000 after acquiring an additional 196 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Diamondback Energy by 126.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 626,847 shares of the oil and natural gas company’s stock valued at $115,221,000 after acquiring an additional 349,801 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company headquartered in Midland, Texas. The company focuses primarily on the acquisition, development, exploration and production of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico.
Diamondback’s operations are concentrated in the Midland and Delaware sub-basins, where it develops properties using horizontal drilling and hydraulic fracturing. Its production includes crude oil, natural gas and natural gas liquids.
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