Diamondback Energy (NASDAQ:FANG) received a $171.00 target price from stock analysts at Williams Capital in a report released on Wednesday. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Williams Capital’s price objective indicates a potential upside of 50.83% from the stock’s current price.
Several other equities analysts also recently weighed in on the stock. Oppenheimer reaffirmed a “buy” rating on shares of Diamondback Energy in a report on Tuesday. Ifs Securities initiated coverage on shares of Diamondback Energy in a report on Monday, October 29th. They issued a “strong-buy” rating on the stock. Zacks Investment Research raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Thursday, October 25th. BidaskClub downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $183.00 target price on shares of Diamondback Energy in a report on Wednesday, October 24th. Four research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $156.45.
Shares of NASDAQ:FANG opened at $113.37 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. Diamondback Energy has a 1-year low of $105.66 and a 1-year high of $140.78. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 0.72 and a beta of 0.70.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.15. Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. The business had revenue of $538.03 million for the quarter, compared to the consensus estimate of $518.32 million. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The company’s revenue for the quarter was up 78.6% on a year-over-year basis. On average, equities research analysts predict that Diamondback Energy will post 6.44 EPS for the current fiscal year.
In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total transaction of $255,600.00. Following the transaction, the vice president now owns 89,532 shares in the company, valued at $11,442,189.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Investec Asset Management LTD purchased a new stake in Diamondback Energy in the second quarter worth about $8,378,000. Cozad Asset Management Inc. purchased a new stake in Diamondback Energy in the second quarter worth about $3,949,000. Hartline Investment Corp lifted its stake in Diamondback Energy by 28.0% in the second quarter. Hartline Investment Corp now owns 19,329 shares of the oil and natural gas company’s stock worth $2,543,000 after acquiring an additional 4,233 shares during the period. Van ECK Associates Corp lifted its stake in Diamondback Energy by 1.9% in the second quarter. Van ECK Associates Corp now owns 1,594,112 shares of the oil and natural gas company’s stock worth $209,737,000 after acquiring an additional 29,280 shares during the period. Finally, Marietta Investment Partners LLC lifted its stake in Diamondback Energy by 1.0% in the second quarter. Marietta Investment Partners LLC now owns 64,307 shares of the oil and natural gas company’s stock worth $8,461,000 after acquiring an additional 618 shares during the period.
About Diamondback Energy
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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