Investment analysts at Stephens assumed coverage on shares of Diamondback Energy (NASDAQ:FANG) in a research note issued on Thursday, The Fly reports. The brokerage set an “overweight” rating and a $177.00 price target on the oil and natural gas company’s stock. Stephens’ target price points to a potential upside of 77.91% from the company’s current price.
Several other brokerages have also issued reports on FANG. Oppenheimer began coverage on shares of Diamondback Energy in a research report on Wednesday, October 3rd. They set an “outperform” rating and a $166.00 target price for the company. BidaskClub upgraded shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 5th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Diamondback Energy in a research report on Friday, September 28th. TD Securities set a $175.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Saturday, August 11th. Finally, ValuEngine upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Five investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $160.27.
NASDAQ FANG traded down $5.59 during trading hours on Thursday, hitting $99.49. 60,782 shares of the company’s stock traded hands, compared to its average volume of 4,351,351. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $10.64 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 0.60 and a beta of 0.72. Diamondback Energy has a 52 week low of $103.51 and a 52 week high of $140.78.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.15. The company had revenue of $538.03 million during the quarter, compared to analyst estimates of $518.32 million. Diamondback Energy had a net margin of 33.63% and a return on equity of 10.75%. The firm’s quarterly revenue was up 78.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 earnings per share. Sell-side analysts predict that Diamondback Energy will post 6.74 EPS for the current year.
In other 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 value of $255,600.00. Following the transaction, the vice president now owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Capital International Investors purchased a new stake in Diamondback Energy during the third quarter valued at $155,469,000. JPMorgan Chase & Co. raised its stake in Diamondback Energy by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 7,478,957 shares of the oil and natural gas company’s stock valued at $1,011,079,000 after purchasing an additional 984,124 shares in the last quarter. Wexford Capital LP purchased a new stake in Diamondback Energy during the third quarter valued at $116,483,000. Capital World Investors raised its stake in Diamondback Energy by 4.8% during the third quarter. Capital World Investors now owns 11,931,000 shares of the oil and natural gas company’s stock valued at $1,612,952,000 after purchasing an additional 542,279 shares in the last quarter. Finally, Third Point LLC purchased a new stake in Diamondback Energy during the third quarter valued at $67,595,000.
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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