Diamondback Energy (NASDAQ:FANG)‘s stock had its “buy” rating restated by investment analysts at Piper Jaffray in a research note issued on Friday. They presently have a $141.00 price objective on the oil and natural gas company’s stock. Piper Jaffray’s price objective indicates a potential upside of 20.91% from the company’s previous close. Piper Jaffray also issued estimates for Diamondback Energy’s Q1 2018 earnings at $1.52 EPS, Q2 2018 earnings at $1.55 EPS, Q3 2018 earnings at $1.71 EPS, Q4 2018 earnings at $1.84 EPS, FY2018 earnings at $6.62 EPS, Q1 2019 earnings at $2.06 EPS, Q2 2019 earnings at $2.07 EPS, Q3 2019 earnings at $2.15 EPS, Q4 2019 earnings at $2.32 EPS and FY2019 earnings at $8.61 EPS.
Several other equities research analysts also recently weighed in on the company. ValuEngine downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. BidaskClub raised Diamondback Energy from a “hold” rating to a “buy” rating in a report on Friday, March 30th. Stifel Nicolaus set a $167.00 price objective on Diamondback Energy and gave the company a “buy” rating in a report on Wednesday, March 28th. Jefferies Group set a $162.00 price objective on Diamondback Energy and gave the company a “buy” rating in a report on Monday, March 19th. Finally, UBS assumed coverage on Diamondback Energy in a report on Wednesday, March 7th. They issued a “buy” rating and a $155.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $141.60.
Shares of FANG stock traded down $7.79 during trading hours on Friday, hitting $116.62. The stock had a trading volume of 3,286,051 shares, compared to its average volume of 1,425,231. The company has a market capitalization of $12,212.99, a P/E ratio of 22.00, a PEG ratio of 0.70 and a beta of 0.83. Diamondback Energy has a twelve month low of $82.77 and a twelve month high of $134.60. The company has a current ratio of 0.62, a quick ratio of 0.61 and a debt-to-equity ratio of 0.26.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.16. The business had revenue of $399.19 million during the quarter, compared to the consensus estimate of $370.74 million. Diamondback Energy had a return on equity of 9.63% and a net margin of 40.02%. research analysts predict that Diamondback Energy will post 6.86 EPS for the current fiscal year.
In other Diamondback Energy news, VP Randall J. Holder sold 7,120 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $124.15, for a total value of $883,948.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael L. Hollis sold 3,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $129.34, for a total value of $388,020.00. The disclosure for this sale can be found here. Insiders sold 136,431 shares of company stock valued at $17,101,852 in the last quarter. 0.41% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in Diamondback Energy by 10.5% in the fourth 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 acquiring an additional 145,951 shares in the last quarter. Geode Capital Management LLC raised its position in Diamondback Energy by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 876,107 shares of the oil and natural gas company’s stock worth $110,554,000 after acquiring an additional 18,817 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Diamondback Energy by 24.8% in the fourth 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 buying an additional 169,321 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Diamondback Energy by 76.1% in the fourth quarter. Franklin Resources Inc. now owns 765,062 shares of the oil and natural gas company’s stock valued at $96,581,000 after buying an additional 330,652 shares in the last quarter. Finally, Viking Global Investors LP purchased a new position in shares of Diamondback Energy in the fourth quarter valued at $78,139,000.
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Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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