BidaskClub upgraded shares of Diamondback Energy (NASDAQ:FANG) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.
FANG has been the topic of several other research reports. SunTrust Banks reissued a buy rating and set a $170.00 price objective on shares of Diamondback Energy in a report on Friday, August 10th. KLR Group reissued a buy rating and set a $211.00 price objective on shares of Diamondback Energy in a report on Monday, August 20th. TD Securities set a $175.00 price objective on Diamondback Energy and gave the stock a buy rating in a report on Saturday, August 11th. Morgan Stanley decreased their price objective on Diamondback Energy from $176.00 to $164.00 and set an overweight rating on the stock in a report on Thursday, August 16th. Finally, Raymond James reissued a buy rating and set a $166.00 price objective on shares of Diamondback Energy in a report on Monday, August 13th. Three equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $154.72.
FANG opened at $132.88 on Friday. The company has a market capitalization of $13.33 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 0.81 and a beta of 0.59. 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 12-month low of $98.57 and a 12-month high of $140.78.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.64 by ($0.05). The business had revenue of $526.30 million during the quarter, compared to analyst estimates of $479.57 million. Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. The business’s quarterly revenue was up 95.4% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. Research analysts expect that Diamondback Energy will post 6.37 EPS for the current fiscal year.
In related news, insider Michael L. Hollis sold 5,000 shares of the business’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $128.85, for a total value of $644,250.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 completion of the sale, the vice president now directly owns 89,532 shares in the company, valued at approximately $11,442,189.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,140 shares of company stock worth $916,735. 0.57% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Next Century Growth Investors LLC bought a new position in Diamondback Energy in the 1st quarter valued at $121,000. Captrust Financial Advisors raised its position in Diamondback Energy by 99.8% in the 2nd quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock valued at $131,000 after purchasing an additional 497 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in Diamondback Energy in the 1st quarter valued at $187,000. Wedbush Securities Inc. bought a new position in Diamondback Energy in the 2nd quarter valued at $201,000. Finally, Private Advisor Group LLC bought a new position in Diamondback Energy in the 2nd quarter valued at $204,000.
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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