Diamondback Energy, Inc. (FANG) Price Target Raised to $130.00
Diamondback Energy, Inc. (NASDAQ:FANG) had its price target upped by Roth Capital from $120.00 to $130.00 in a report issued on Thursday. Roth Capital currently has a buy rating on the oil and natural gas company’s stock.
Several other research analysts have also recently weighed in on FANG. Scotiabank set a $95.00 price objective on shares of Diamondback Energy and gave the stock a buy rating in a research report on Saturday, July 1st. Imperial Capital assumed coverage on shares of Diamondback Energy in a research report on Tuesday, July 18th. They issued an outperform rating and a $110.00 price objective on the stock. Wells Fargo & Company restated an outperform rating and issued a $110.00 price objective (down from $125.00) on shares of Diamondback Energy in a research report on Saturday, July 22nd. Northland Securities set a $125.00 price objective on shares of Diamondback Energy and gave the stock a buy rating in a research report on Monday, July 17th. Finally, BidaskClub upgraded shares of Diamondback Energy from a sell rating to a hold rating in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Diamondback Energy presently has an average rating of Buy and a consensus target price of $115.89.
Diamondback Energy (NASDAQ:FANG) traded down 0.46% during midday trading on Thursday, hitting $96.21. 469,088 shares of the stock were exchanged. The company’s 50 day moving average is $89.68 and its 200 day moving average is $98.79. The company has a market capitalization of $9.44 billion, a P/E ratio of 2047.02 and a beta of 1.06. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $114.00.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.43. The company had revenue of $235.23 million for the quarter, compared to analysts’ expectations of $218.62 million. Diamondback Energy had a net margin of 0.62% and a return on equity of 6.51%. Analysts predict that Diamondback Energy will post $4.19 earnings per share for the current fiscal year.
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In other news, Director Steven E. West acquired 2,400 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average price of $103.45 per share, for a total transaction of $248,280.00. Following the completion of the acquisition, the director now owns 2,400 shares in the company, valued at $248,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael L. Hollis sold 1,000 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank increased its position in shares of Diamondback Energy by 26.2% in the first quarter. Toronto Dominion Bank now owns 969 shares of the oil and natural gas company’s stock valued at $100,000 after buying an additional 201 shares during the last quarter. Winch Advisory Services LLC bought a new position in shares of Diamondback Energy during the first quarter valued at $105,000. State of Alaska Department of Revenue bought a new position in shares of Diamondback Energy during the first quarter valued at $180,000. Stevens Capital Management LP bought a new position in shares of Diamondback Energy during the first quarter valued at $201,000. Finally, Teza Capital Management LLC bought a new position in shares of Diamondback Energy during the first quarter valued at $202,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.
About Diamondback Energy
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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