ValuEngine lowered shares of Diamondback Energy (NASDAQ:FANG) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
Several other equities analysts have also commented on the company. SunTrust Banks reissued a buy rating and set a $170.00 price target on shares of Diamondback Energy in a research report on Friday, August 10th. KLR Group reissued a buy rating and set a $211.00 price target on shares of Diamondback Energy in a research report on Monday, August 20th. TD Securities set a $175.00 price target on Diamondback Energy and gave the stock a buy rating in a research report on Saturday, August 11th. Morgan Stanley reduced their price target on Diamondback Energy from $176.00 to $164.00 and set an overweight rating on the stock in a research report on Thursday, August 16th. Finally, Imperial Capital boosted their price target on Diamondback Energy from $160.00 to $165.00 and gave the stock an outperform rating in a research report on Friday, August 10th. Four analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $154.83.
Shares of NASDAQ:FANG traded up $1.49 during trading on Friday, reaching $126.12. 1,604,792 shares of the stock were exchanged, compared to its average volume of 1,644,915. The stock has a market capitalization of $13.33 billion, a P/E ratio of 23.80, a PEG ratio of 0.81 and a beta of 0.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.54. 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 quarterly earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.05). The company had revenue of $526.30 million for the quarter, compared to analyst estimates of $479.57 million. Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. The business’s revenue was up 95.4% on a year-over-year basis. During the same period last year, the firm posted $1.25 earnings per share. Analysts predict that Diamondback Energy will post 6.37 earnings per share for the current year.
In related news, VP Russell Pantermuehl sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total transaction of $255,600.00. Following the sale, the vice president now directly owns 89,532 shares of the company’s stock, valued at approximately $11,442,189.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael L. Hollis sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $128.85, for a total value of $644,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,140 shares of company stock worth $916,735. 0.57% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Investec Asset Management LTD acquired a new stake in shares of Diamondback Energy during the 2nd quarter valued at approximately $8,378,000. Hartline Investment Corp raised its position in shares of Diamondback Energy by 28.0% during the 2nd quarter. Hartline Investment Corp now owns 19,329 shares of the oil and natural gas company’s stock valued at $2,543,000 after acquiring an additional 4,233 shares in the last quarter. Cozad Asset Management Inc. acquired a new stake in shares of Diamondback Energy during the 2nd quarter valued at approximately $3,949,000. Van ECK Associates Corp raised its position in shares of Diamondback Energy by 1.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,594,112 shares of the oil and natural gas company’s stock valued at $209,737,000 after acquiring an additional 29,280 shares in the last quarter. Finally, Marietta Investment Partners LLC grew its stake in Diamondback Energy by 1.0% during the 2nd quarter. Marietta Investment Partners LLC now owns 64,307 shares of the oil and natural gas company’s stock worth $8,461,000 after buying an additional 618 shares during the last quarter.
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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