Diamondback Energy Inc (NASDAQ:FANG) has received an average recommendation of “Buy” from the twenty-eight brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $137.25.
A number of research firms have recently issued reports on FANG. B. Riley began coverage on shares of Diamondback Energy in a report on Monday, February 5th. They set a “neutral” rating and a $150.00 target price for the company. Morgan Stanley dropped their target price on shares of Diamondback Energy to $164.00 and set an “overweight” rating for the company in a report on Wednesday, February 7th. Zacks Investment Research raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $146.00 target price for the company in a report on Wednesday, January 17th. BidaskClub lowered shares of Diamondback Energy from a “strong-buy” rating to a “buy” rating in a report on Friday, January 26th. Finally, Deutsche Bank began coverage on shares of Diamondback Energy in a report on Thursday, February 1st. They set a “buy” rating and a $162.00 target price for the company.
Shares of Diamondback Energy (NASDAQ:FANG) traded down $1.27 during midday trading on Tuesday, reaching $123.88. 1,863,900 shares of the company traded hands, compared to its average volume of 1,404,940. The stock has a market cap of $12,160.96, a price-to-earnings ratio of 24.93, a PEG ratio of 0.69 and a beta of 0.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.61 and a current ratio of 0.62. Diamondback Energy has a 12 month low of $82.77 and a 12 month 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 9.63%. research analysts predict that Diamondback Energy will post 6.92 EPS for the current fiscal year.
In related news, insider Michael L. Hollis sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total transaction of $388,020.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael L. Hollis sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. The disclosure for this sale can be found here. Insiders sold 68,400 shares of company stock worth $8,337,200 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in FANG. Janus Henderson Group PLC lifted its holdings in shares of Diamondback Energy by 19.6% during the second quarter. Janus Henderson Group PLC now owns 10,372 shares of the oil and natural gas company’s stock worth $921,000 after purchasing an additional 1,700 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Diamondback Energy by 46.7% during 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 during the period. The Manufacturers Life Insurance Company raised its position in shares of Diamondback Energy by 79.4% during the second quarter. The Manufacturers Life Insurance Company now owns 6,009 shares of the oil and natural gas company’s stock worth $534,000 after purchasing an additional 2,659 shares during the period. Sentry Investment Management LLC acquired a new stake in shares of Diamondback Energy during the second quarter worth $215,000. Finally, Viking Fund Management LLC raised its position in shares of Diamondback Energy by 6.3% during the third quarter. Viking Fund Management LLC now owns 220,000 shares of the oil and natural gas company’s stock worth $21,551,000 after purchasing an additional 13,000 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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