Mizuho set a $148.00 price target on Diamondback Energy (NASDAQ:FANG) in a research note published on Tuesday. The brokerage currently has a buy rating on the oil and natural gas company’s stock.
A number of other brokerages have also recently commented on FANG. US Capital Advisors reiterated a buy rating on shares of Diamondback Energy in a research report on Monday, October 2nd. Northland Securities reiterated a buy rating and issued a $125.00 target price on shares of Diamondback Energy in a research report on Tuesday, September 26th. BMO Capital Markets set a $110.00 target price on shares of Diamondback Energy and gave the stock a buy rating in a research report on Tuesday, October 10th. Zacks Investment Research upgraded shares of Diamondback Energy from a hold rating to a buy rating and set a $111.00 target price on the stock in a research report on Monday, October 9th. Finally, Jefferies Group assumed coverage on shares of Diamondback Energy in a research report on Monday, October 9th. They issued a buy rating and a $124.00 target price on the stock. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy presently has a consensus rating of Buy and an average price target of $127.96.
Diamondback Energy (NASDAQ:FANG) traded down $2.12 during midday trading on Tuesday, hitting $128.02. 1,002,400 shares of the stock were exchanged, compared to its average volume of 1,274,470. Diamondback Energy has a 52 week low of $82.77 and a 52 week high of $132.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.46 and a quick ratio of 0.45. The company has a market cap of $12,530.00, a P/E ratio of 31.00, a P/E/G ratio of 0.74 and a beta of 1.08.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.31. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The company had revenue of $301.30 million during the quarter, compared to the consensus estimate of $296.53 million. During the same period in the previous year, the firm posted ($0.03) EPS. The firm’s revenue was up 112.0% compared to the same quarter last year. sell-side analysts predict that Diamondback Energy will post 5.08 earnings per share for the current fiscal year.
In related news, CEO Travis D. Stice sold 35,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $125.00, for a total transaction of $4,375,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Russell Pantermuehl sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $109.55, for a total transaction of $438,200.00. Following the transaction, the vice president now owns 64,214 shares in the company, valued at approximately $7,034,643.70. The disclosure for this sale can be found here. Insiders sold 76,400 shares of company stock worth $9,156,330 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in FANG. Warburg Pincus LLC increased its position in shares of Diamondback Energy by 132.4% during the second quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock valued at $580,188,000 after buying an additional 3,721,519 shares during the period. Capital World Investors increased its position in shares of Diamondback Energy by 98.1% during the second quarter. Capital World Investors now owns 2,516,497 shares of the oil and natural gas company’s stock valued at $223,490,000 after buying an additional 1,246,072 shares during the period. Boston Partners increased its position in shares of Diamondback Energy by 18.1% during the third quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock valued at $771,379,000 after buying an additional 1,208,864 shares during the period. Voya Investment Management LLC increased its position in shares of Diamondback Energy by 159.6% during the second quarter. Voya Investment Management LLC now owns 1,320,826 shares of the oil and natural gas company’s stock valued at $117,302,000 after buying an additional 811,950 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Diamondback Energy by 8.9% during the second quarter. Vanguard Group Inc. now owns 7,988,153 shares of the oil and natural gas company’s stock valued at $709,428,000 after buying an additional 651,353 shares during the period.
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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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