Diamondback Energy (FANG) Reaches New 12-Month High at $130.99
Shares of Diamondback Energy Inc (NASDAQ:FANG) reached a new 52-week high during trading on Monday . The stock traded as high as $130.99 and last traded at $129.98, with a volume of 873600 shares changing hands. The stock had previously closed at $130.13.
Several research firms have recently commented on FANG. BidaskClub raised shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Barclays reaffirmed a “buy” rating and set a $138.00 price target on shares of Diamondback Energy in a research report on Sunday, December 24th. KeyCorp reaffirmed an “overweight” rating and set a $125.00 price target (up previously from $117.00) on shares of Diamondback Energy in a research report on Tuesday, November 7th. SunTrust Banks reaffirmed a “buy” rating and set a $130.00 price target on shares of Diamondback Energy in a research report on Friday, November 10th. Finally, Imperial Capital lifted their price target on shares of Diamondback Energy from $113.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. Three investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $124.58.
The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.45 and a current ratio of 0.46. The company has a market cap of $12,850.00, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 0.74 and a beta of 1.08.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The firm had revenue of $301.30 million during the quarter, compared to the consensus estimate of $296.53 million. During the same quarter last year, the firm earned ($0.03) EPS. The firm’s revenue for the quarter was up 112.0% on a year-over-year basis. analysts anticipate that Diamondback Energy Inc will post 5.07 earnings per share for the current year.
In other Diamondback Energy news, CFO Teresa L. Dick sold 5,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $111.79, for a total value of $558,950.00. Following the completion of the transaction, the chief financial officer now owns 31,760 shares in the company, valued at $3,550,450.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 35,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $125.00, for a total transaction of $4,375,000.00. The disclosure for this sale can be found here. Insiders sold a total of 78,400 shares of company stock valued at $9,361,210 in the last quarter. 0.41% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of FANG. Johnson Financial Group Inc. acquired a new position in shares of Diamondback Energy in the second quarter worth $102,000. Cubist Systematic Strategies LLC grew its stake in shares of Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after acquiring an additional 700 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Diamondback Energy in the third quarter worth $206,000. Commerce Bank acquired a new position in shares of Diamondback Energy in the third quarter worth $208,000. Finally, Sentry Investment Management LLC acquired a new position in shares of Diamondback Energy in the second quarter worth $215,000.
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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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