Diamondback Energy (FANG) Given a $140.00 Price Target at Northland Securities

Diamondback Energy (FANG) Given a $140.00 Price Target at Northland Securities

Northland Securities set a $140.00 target price on Diamondback Energy (NASDAQ:FANG) in a research note released on Wednesday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

FANG has been the topic of a number of other research reports. Piper Jaffray Companies reaffirmed a buy rating and issued a $118.00 target price on shares of Diamondback Energy in a research report on Friday, November 24th. Stephens reaffirmed a buy rating and issued a $160.00 target price on shares of Diamondback Energy in a research report on Tuesday, February 6th. SunTrust Banks reaffirmed a buy rating and issued a $130.00 target price on shares of Diamondback Energy in a research report on Friday, November 10th. Stifel Nicolaus set a $149.00 target price on shares of Diamondback Energy and gave the company a buy rating in a research report on Tuesday, January 30th. Finally, BidaskClub raised shares of Diamondback Energy from a buy rating to a strong-buy rating in a research report on Friday, December 22nd. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $137.60.

Diamondback Energy (FANG) opened at $123.88 on Wednesday. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $134.52. 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 $12,285.64, a PE ratio of 24.93, a price-to-earnings-growth ratio of 0.68 and a beta of 0.91.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.16. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.74%. The company had revenue of $399.19 million for the quarter, compared to analysts’ expectations of $370.74 million. equities research analysts forecast that Diamondback Energy will post 7.05 EPS for the current fiscal year.

In related news, insider Michael L. Hollis sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael L. Hollis sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $129.34, for a total transaction of $388,020.00. The disclosure for this sale can be found here. Insiders have sold 68,400 shares of company stock worth $8,337,200 in the last three months. Corporate insiders own 0.41% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its stake in shares of Diamondback Energy by 42.6% during the fourth quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock worth $164,000 after buying an additional 389 shares during the period. Capital Analysts LLC increased its stake in shares of Diamondback Energy by 5.2% during the third quarter. Capital Analysts LLC now owns 9,479 shares of the oil and natural gas company’s stock worth $929,000 after buying an additional 469 shares during the period. Signature Estate & Investment Advisors LLC increased its stake in shares of Diamondback Energy by 7.8% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 6,651 shares of the oil and natural gas company’s stock worth $840,000 after buying an additional 480 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Diamondback Energy by 8.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 6,295 shares of the oil and natural gas company’s stock worth $795,000 after buying an additional 510 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of Diamondback Energy by 4.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 12,161 shares of the oil and natural gas company’s stock worth $1,191,000 after buying an additional 564 shares during the period.

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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.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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Northland Securities set a $140.00 target price on Diamondback Energy (NASDAQ:FANG) in a research note issued to investors on Wednesday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

Several other brokerages have also commented on FANG. Zacks Investment Research raised shares of Diamondback Energy from a hold rating to a buy rating and set a $146.00 price target for the company in a report on Wednesday, January 17th. Deutsche Bank started coverage on shares of Diamondback Energy in a report on Thursday, February 1st. They issued a buy rating and a $162.00 price target for the company. Scotiabank reissued a buy rating and issued a $118.00 price target on shares of Diamondback Energy in a report on Wednesday, November 22nd. Morgan Stanley boosted their price target on shares of Diamondback Energy from $118.00 to $126.00 and gave the stock an overweight rating in a report on Wednesday, October 18th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $138.00 price target on shares of Diamondback Energy in a report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $137.60.

Shares of Diamondback Energy (NASDAQ:FANG) opened at $123.88 on Wednesday. The company has a market cap of $12,285.64, a price-to-earnings ratio of 24.93, a P/E/G ratio of 0.68 and a beta of 0.91. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $134.52.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.40 by $0.16. The company had revenue of $399.19 million during the quarter, compared to analyst estimates of $370.74 million. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.74%. analysts expect that Diamondback Energy will post 7.05 earnings per share for the current year.

In other news, insider Michael L. Hollis sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total transaction of $388,020.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders have sold 68,400 shares of company stock valued at $8,337,200 in the last ninety days. Insiders own 0.41% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. William Blair Investment Management LLC boosted its position in shares of Diamondback Energy by 24.8% during the 4th quarter. William Blair Investment Management LLC now owns 851,819 shares of the oil and natural gas company’s stock valued at $107,542,000 after acquiring an additional 169,321 shares during the last quarter. BB&T Securities LLC boosted its position in shares of Diamondback Energy by 479.0% during the 4th quarter. BB&T Securities LLC now owns 16,657 shares of the oil and natural gas company’s stock valued at $2,103,000 after acquiring an additional 13,780 shares during the last quarter. VR Advisory Services Ltd boosted its position in shares of Diamondback Energy by 50.0% during the 4th quarter. VR Advisory Services Ltd now owns 21,000 shares of the oil and natural gas company’s stock valued at $2,651,000 after acquiring an additional 7,000 shares during the last quarter. Castleark Management LLC boosted its position in shares of Diamondback Energy by 127.1% during the 4th quarter. Castleark Management LLC now owns 113,983 shares of the oil and natural gas company’s stock valued at $14,390,000 after acquiring an additional 63,801 shares during the last quarter. Finally, Sentinel Trust Co. LBA acquired a new position in shares of Diamondback Energy during the 4th quarter valued at about $443,000.

TRADEMARK VIOLATION WARNING: This report was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another publication, it was stolen and republished in violation of US & international copyright laws. The legal version of this report can be read at https://www.dispatchtribunal.com/2018/02/18/diamondback-energy-fang-given-a-140-00-price-target-at-northland-securities.html.

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.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.

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