Diamondback Energy (NASDAQ:FANG) has been given a $120.00 target price by equities research analysts at Northland Securities in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Northland Securities’ price objective would indicate a potential upside of 7.59% from the company’s previous close.
A number of other research firms have also recently weighed in on FANG. KeyCorp reaffirmed an “overweight” rating and issued a $125.00 price objective (up previously from $117.00) on shares of Diamondback Energy in a report on Tuesday, November 7th. SunTrust Banks reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Diamondback Energy in a report on Friday, November 10th. Imperial Capital increased their price objective on shares of Diamondback Energy from $113.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Zacks Investment Research cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, BMO Capital Markets set a $130.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $125.56.
Shares of Diamondback Energy (NASDAQ:FANG) opened at $111.53 on Monday. The firm has a market cap of $10,926.02, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 0.81 and a beta of 1.09. Diamondback Energy has a twelve month low of $82.77 and a twelve month high of $114.93. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.31. The company had revenue of $301.30 million for the quarter, compared to analysts’ expectations of $296.53 million. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The firm’s revenue was up 112.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) earnings per share. sell-side analysts anticipate that Diamondback Energy will post 5.02 EPS for the current fiscal year.
In other Diamondback Energy news, VP Russell Pantermuehl sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $96.89, for a total transaction of $387,560.00. Following the transaction, the vice president now owns 70,214 shares of the company’s stock, valued at approximately $6,803,034.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Teresa L. Dick sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $111.79, for a total transaction of $558,950.00. Following the transaction, the chief financial officer now directly owns 31,760 shares in the company, valued at approximately $3,550,450.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,400 shares of company stock worth $2,753,230. 0.41% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in FANG. Johnson Financial Group Inc. bought a new position in shares of Diamondback Energy during the 2nd quarter valued at about $102,000. Crossmark Global Holdings Inc. bought a new position in shares of Diamondback Energy during the 3rd quarter valued at about $206,000. Commerce Bank bought a new position in shares of Diamondback Energy during the 3rd quarter valued at about $208,000. Cubist Systematic Strategies LLC boosted its position in shares of Diamondback Energy by 46.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after purchasing an additional 700 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new position in shares of Diamondback Energy during the 3rd quarter valued at about $237,000.
Diamondback Energy Company Profile
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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