Barclays upgraded shares of Diamondback Energy (NASDAQ:FANG) from an equal weight rating to an overweight rating in a research report released on Monday, November 20th. The firm currently has $137.00 price objective on the oil and natural gas company’s stock.
Several other brokerages also recently issued reports on FANG. KeyCorp reissued an overweight rating and issued a $125.00 price objective (up from $117.00) on shares of Diamondback Energy in a research note on Tuesday, November 7th. SunTrust Banks reissued a buy rating and issued a $130.00 price objective on shares of Diamondback Energy in a research note on Friday, November 10th. Imperial Capital upped their target price on Diamondback Energy from $113.00 to $130.00 and gave the stock an outperform rating in a research report on Wednesday, November 8th. Zacks Investment Research lowered Diamondback Energy from a buy rating to a hold rating in a research report on Thursday, November 9th. Finally, BMO Capital Markets set a $130.00 price objective on Diamondback Energy and gave the company a buy rating in a report on Tuesday, November 14th. One research 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 company currently has a consensus rating of Buy and a consensus target price of $126.88.
Shares of Diamondback Energy (NASDAQ FANG) traded up $2.62 during trading on Monday, hitting $108.95. The stock had a trading volume of 727,515 shares, compared to its average volume of 1,342,536. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.45 and a current ratio of 0.46. The firm has a market capitalization of $10,690.00, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 0.79 and a beta of 1.09. Diamondback Energy has a twelve month low of $82.77 and a twelve month high of $114.93.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.02 by $0.31. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The business had revenue of $301.30 million during the quarter, compared to the consensus estimate of $296.53 million. During the same period in the prior year, the business posted ($0.03) earnings per share. Diamondback Energy’s revenue was up 112.0% compared to the same quarter last year. equities research analysts expect that Diamondback Energy will post 5.02 EPS for the current year.
In related news, CFO Teresa L. Dick sold 5,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $111.79, for a total transaction of $558,950.00. Following the completion of the sale, the chief financial officer now directly owns 31,760 shares of the company’s stock, valued at approximately $3,550,450.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Russell Pantermuehl sold 4,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $96.89, for a total value of $387,560.00. Following the sale, the vice president now directly owns 70,214 shares of the company’s stock, valued at $6,803,034.46. The disclosure for this sale can be found here. Insiders have sold a total of 26,400 shares of company stock valued at $2,753,230 in the last 90 days. 0.41% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. AXA lifted its holdings in Diamondback Energy by 4.7% during the third quarter. AXA now owns 92,100 shares of the oil and natural gas company’s stock worth $9,022,000 after acquiring an additional 4,100 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Diamondback Energy by 191.7% during the third quarter. GSA Capital Partners LLP now owns 8,484 shares of the oil and natural gas company’s stock worth $831,000 after acquiring an additional 5,576 shares in the last quarter. Regents of The University of California bought a new stake in shares of Diamondback Energy in the third quarter valued at about $1,413,000. GeoSphere Capital Management lifted its holdings in shares of Diamondback Energy by 15.4% in the third quarter. GeoSphere Capital Management now owns 30,000 shares of the oil and natural gas company’s stock valued at $2,939,000 after purchasing an additional 4,000 shares in the last quarter. Finally, IFM Investors Pty Ltd bought a new stake in shares of Diamondback Energy in the third quarter valued at about $258,000.
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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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