B. Riley began coverage on shares of Diamondback Energy (NASDAQ:FANG) in a research report sent to investors on Monday, February 5th, MarketBeat Ratings reports. The firm issued a neutral rating and a $150.00 target price on the oil and natural gas company’s stock. B. Riley also issued estimates for Diamondback Energy’s Q4 2017 earnings at $1.12 EPS, FY2017 earnings at $4.75 EPS, Q1 2018 earnings at $1.60 EPS, Q2 2018 earnings at $1.50 EPS, Q3 2018 earnings at $1.69 EPS, Q4 2018 earnings at $1.97 EPS, FY2018 earnings at $6.76 EPS, Q1 2019 earnings at $2.29 EPS, Q2 2019 earnings at $2.56 EPS, Q3 2019 earnings at $2.85 EPS, Q4 2019 earnings at $2.99 EPS and FY2019 earnings at $10.68 EPS.
A number of other research analysts have also issued reports on FANG. Jefferies Group initiated coverage on Diamondback Energy in a research report on Monday, October 9th. They set a buy rating and a $124.00 target price on the stock. Zacks Investment Research upgraded 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. BMO Capital Markets set a $110.00 target price on Diamondback Energy and gave the company a buy rating in a research report on Tuesday, October 10th. Barclays increased their target price on Diamondback Energy from $105.00 to $121.00 and gave the company an equal weight rating in a research report on Wednesday, October 11th. Finally, KeyCorp restated a buy rating and issued a $113.00 price objective on shares of Diamondback Energy in a report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Diamondback Energy presently has an average rating of Buy and an average target price of $135.11.
Shares of Diamondback Energy (FANG) remained flat at $$116.01 during trading hours on Monday. 287,149 shares of the company traded hands, compared to its average volume of 1,292,014. Diamondback Energy has a fifty-two week low of $82.77 and a fifty-two week high of $134.52. The stock has a market cap of $10,848.47, a PE ratio of 28.09, a price-to-earnings-growth ratio of 0.57 and a beta of 0.91. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22.
In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $111.45, for a total value of $222,900.00. Following the completion of the sale, the vice president now directly owns 63,314 shares of the company’s stock, valued at approximately $7,056,345.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Travis D. Stice sold 35,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $125.00, for a total value of $4,375,000.00. The disclosure for this sale can be found here. Insiders sold a total of 68,400 shares of company stock valued at $8,337,200 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Boston Partners increased its position in shares of Diamondback Energy by 18.1% during the 3rd quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock worth $771,379,000 after purchasing an additional 1,208,864 shares during the last quarter. State Street Corp increased its position in shares of Diamondback Energy by 8.3% during the 2nd quarter. State Street Corp now owns 2,192,372 shares of the oil and natural gas company’s stock worth $194,707,000 after purchasing an additional 168,604 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Diamondback Energy by 15.9% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,141,967 shares of the oil and natural gas company’s stock worth $209,827,000 after purchasing an additional 294,048 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Diamondback Energy by 2.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,706,199 shares of the oil and natural gas company’s stock worth $167,139,000 after purchasing an additional 33,582 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Diamondback Energy by 10.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,529,601 shares of the oil and natural gas company’s stock worth $193,111,000 after purchasing an additional 145,951 shares during the last quarter.
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About Diamondback Energy
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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