BidaskClub downgraded shares of Diamondback Energy (NASDAQ:FANG) from a buy rating to a hold rating in a report published on Thursday, BidAskClub reports.
A number of other equities analysts have also commented on the stock. Williams Capital set a $165.00 price target on shares of Diamondback Energy and gave the stock a buy rating in a report on Thursday, May 23rd. MKM Partners assumed coverage on shares of Diamondback Energy in a research note on Friday, June 28th. They set a buy rating for the company. ValuEngine downgraded shares of Yext from a strong-buy rating to a buy rating in a research note on Friday, May 10th. KeyCorp assumed coverage on shares of Pluralsight in a research note on Tuesday, July 16th. They set an overweight rating and a $40.00 target price for the company. Finally, Raymond James reissued an average rating and set a $4.50 target price on shares of John Hancock Financial Opprts Fund in a research note on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $158.71.
Shares of NASDAQ:FANG opened at $104.61 on Thursday. The firm has a market capitalization of $17.23 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 0.65 and a beta of 0.85. The business’s fifty day simple moving average is $104.08. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 0.32. Diamondback Energy has a 52 week low of $85.19 and a 52 week high of $140.78.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $864.00 million for the quarter, compared to analyst estimates of $893.16 million. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. Diamondback Energy’s revenue was up 80.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.64 earnings per share. Research analysts anticipate that Diamondback Energy will post 7.8 earnings per share for the current fiscal year.
In other Diamondback Energy news, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.28, for a total value of $536,400.00. Following the completion of the sale, the vice president now directly owns 112,107 shares of the company’s stock, valued at $12,026,838.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of Diamondback Energy stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.47, for a total transaction of $161,205.00. Following the completion of the sale, the chief financial officer now directly owns 27,465 shares of the company’s stock, valued at $2,951,663.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,500 shares of company stock valued at $1,258,505. Insiders own 0.47% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in Diamondback Energy by 11.4% in the first quarter. JPMorgan Chase & Co. now owns 13,528,463 shares of the oil and natural gas company’s stock valued at $1,373,546,000 after purchasing an additional 1,388,245 shares in the last quarter. BlackRock Inc. increased its position in shares of Diamondback Energy by 0.6% during the first quarter. BlackRock Inc. now owns 10,232,287 shares of the oil and natural gas company’s stock worth $1,038,884,000 after acquiring an additional 59,458 shares in the last quarter. Boston Partners increased its position in shares of Diamondback Energy by 16.5% during the first quarter. Boston Partners now owns 3,990,944 shares of the oil and natural gas company’s stock worth $405,201,000 after acquiring an additional 566,290 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Diamondback Energy by 128.1% during the fourth quarter. Geode Capital Management LLC now owns 2,040,175 shares of the oil and natural gas company’s stock worth $188,797,000 after acquiring an additional 1,145,573 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Diamondback Energy by 2.0% during the first quarter. Northern Trust Corp now owns 1,669,674 shares of the oil and natural gas company’s stock worth $169,522,000 after acquiring an additional 33,169 shares in the last quarter. 99.10% of the stock is owned by hedge funds and other institutional investors.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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