Diamondback Energy (FANG) Earns “Buy” Rating from Stephens
Stephens reiterated their buy rating on shares of Diamondback Energy (NASDAQ:FANG) in a research report released on Tuesday. They currently have a $160.00 price target on the oil and natural gas company’s stock.
Other analysts have also issued research reports about the stock. B. Riley assumed coverage on shares of Diamondback Energy in a research note on Monday. They issued a neutral rating and a $150.00 price objective for the company. Zacks Investment Research upgraded shares of Diamondback Energy from a hold rating to a buy rating and set a $146.00 price objective for the company in a research note on Wednesday, January 17th. BidaskClub lowered shares of Diamondback Energy from a strong-buy rating to a buy rating in a research note on Friday, January 26th. Deutsche Bank assumed coverage on shares of Diamondback Energy in a research note on Thursday, February 1st. They issued a buy rating and a $162.00 price objective for the company. Finally, BMO Capital Markets set a $110.00 price objective on shares of Diamondback Energy and gave the company a buy rating in a research note on Tuesday, October 10th. Five research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $135.11.
Shares of Diamondback Energy (FANG) opened at $111.33 on Tuesday. The firm has a market cap of $11,632.82, a price-to-earnings ratio of 25.38, a PEG ratio of 0.61 and a beta of 0.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.46 and a quick ratio of 0.45. Diamondback Energy has a one year low of $82.77 and a one year high of $134.52.
In other news, insider Michael L. Hollis sold 3,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total value of $388,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael L. Hollis sold 10,000 shares of the company’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,400 shares of company stock valued at $8,337,200. Company insiders own 0.41% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. boosted its holdings in shares of Diamondback Energy by 11.5% in the 2nd quarter. Prudential Financial Inc. now owns 5,450 shares of the oil and natural gas company’s stock worth $484,000 after buying an additional 560 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in shares of Diamondback Energy in the 2nd quarter worth about $1,041,000. Numeric Investors LLC purchased a new position in shares of Diamondback Energy in the 2nd quarter worth about $568,000. Stifel Financial Corp boosted its holdings in shares of Diamondback Energy by 5.9% in the 2nd quarter. Stifel Financial Corp now owns 34,210 shares of the oil and natural gas company’s stock worth $3,036,000 after buying an additional 1,897 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of Diamondback Energy in the 2nd quarter worth about $616,000.
COPYRIGHT VIOLATION NOTICE: This news story was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.watchlistnews.com/diamondback-energy-fang-earns-buy-rating-from-stephens/1855223.html.
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.
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.