Shares of Diamondback Energy Inc (NASDAQ:FANG) have been given an average rating of “Buy” by the twenty-nine research firms that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $140.71.
FANG has been the topic of a number of recent analyst reports. BidaskClub raised shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Zacks Investment Research downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Citigroup initiated coverage on shares of Diamondback Energy in a research report on Friday, December 1st. They issued a “buy” rating and a $130.00 price objective on the stock. Barclays reissued a “buy” rating and issued a $138.00 price objective on shares of Diamondback Energy in a research report on Sunday, December 24th. Finally, Stephens reissued a “buy” rating and issued a $159.00 price objective on shares of Diamondback Energy in a research report on Friday, February 16th.
In other Diamondback Energy news, insider Michael L. Hollis sold 10,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available 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 transaction of $4,375,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 181,431 shares of company stock worth $22,726,852 over the last three months. 0.41% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of FANG. Sterling Capital Management LLC lifted its stake in shares of Diamondback Energy by 21.0% in the 3rd quarter. Sterling Capital Management LLC now owns 37,872 shares of the oil and natural gas company’s stock worth $3,710,000 after acquiring an additional 6,575 shares during the period. Strategic Global Advisors LLC acquired a new stake in shares of Diamondback Energy in the 3rd quarter worth $573,000. Janney Montgomery Scott LLC lifted its stake in shares of Diamondback Energy by 139.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 18,546 shares of the oil and natural gas company’s stock worth $1,817,000 after acquiring an additional 10,806 shares during the period. Ashburton Jersey Ltd lifted its stake in shares of Diamondback Energy by 179.3% in the 3rd quarter. Ashburton Jersey Ltd now owns 18,476 shares of the oil and natural gas company’s stock worth $1,810,000 after acquiring an additional 11,860 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in shares of Diamondback Energy by 34.1% in the 3rd quarter. Macquarie Group Ltd. now owns 232,215 shares of the oil and natural gas company’s stock worth $22,747,000 after acquiring an additional 59,031 shares during the period.
Shares of Diamondback Energy (NASDAQ FANG) traded down $0.30 during trading hours on Friday, hitting $129.88. 903,104 shares of the company’s stock were exchanged, compared to its average volume of 1,292,508. Diamondback Energy has a 52 week low of $82.77 and a 52 week high of $134.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.61 and a current ratio of 0.62. The stock has a market cap of $12,323.92, a P/E ratio of 26.19, a PEG ratio of 0.70 and a beta of 0.91.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data 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 9.63%. The company had revenue of $399.19 million for the quarter, compared to the consensus estimate of $370.74 million. research analysts expect that Diamondback Energy will post 6.89 earnings per share for the current fiscal year.
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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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