Diamondback Energy (NASDAQ:FANG) has been assigned a $122.00 target price by Mizuho in a note issued to investors on Saturday, November 25th. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Mizuho’s price target indicates a potential upside of 11.91% from the stock’s current price.
A number of other research firms also recently commented on FANG. BidaskClub downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. BMO Capital Markets set a $100.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Scotiabank reiterated a “buy” rating and issued a $118.00 target price on shares of Diamondback Energy in a research report on Wednesday, November 22nd. Morgan Stanley upped their price objective on Diamondback Energy from $118.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Finally, Williams Capital set a $114.00 price objective on Diamondback Energy and gave the company a “hold” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $126.88.
Diamondback Energy (FANG) traded down $1.89 during midday trading on Friday, hitting $109.02. The stock had a trading volume of 642,900 shares, compared to its average volume of 1,349,412. The company has a market capitalization of $10,887.73, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 0.80 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.45 and a current ratio of 0.46. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $114.93.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.31. The firm had revenue of $301.30 million during the quarter, compared to analyst estimates of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The business’s quarterly revenue was up 112.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) earnings per share. sell-side analysts forecast that Diamondback Energy will post 5.02 earnings per share for the current fiscal year.
In related news, insider Michael L. Hollis sold 2,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $102.44, for a total value of $204,880.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael L. Hollis sold 1,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $100.00, for a total value of $100,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,000 shares of company stock worth $2,597,690. Company insiders own 0.41% of the company’s stock.
A number of large investors have recently made changes to their positions in FANG. Johnson Financial Group Inc. bought a new position in Diamondback Energy in the second quarter worth approximately $102,000. Cubist Systematic Strategies LLC grew its stake in Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after purchasing an additional 700 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Diamondback Energy in the third quarter worth approximately $206,000. Commerce Bank bought a new position in Diamondback Energy in the third quarter worth approximately $208,000. Finally, Sentry Investment Management LLC bought a new position in Diamondback Energy in the second quarter worth approximately $215,000.
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Diamondback Energy Company Profile
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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