Diamondback Energy, Inc. (FANG) Rating Reiterated by Scotiabank
Diamondback Energy, Inc. (NASDAQ:FANG)‘s stock had its “buy” rating reaffirmed by analysts at Scotiabank in a research note issued to investors on Wednesday. They presently have a $118.00 target price on the oil and natural gas company’s stock. Scotiabank’s target price points to a potential upside of 8.01% from the stock’s current price.
Other equities research analysts have also issued reports about the company. US Capital Advisors reissued a “buy” rating on shares of Diamondback Energy in a research report on Monday, October 2nd. Northland Securities reissued a “buy” rating and set a $125.00 price target on shares of Diamondback Energy in a research report on Tuesday, September 26th. Piper Jaffray Companies reissued a “buy” rating and set a $112.00 price target on shares of Diamondback Energy in a research report on Thursday, September 14th. KeyCorp reissued a “buy” rating and set a $113.00 price target on shares of Diamondback Energy in a research report on Wednesday, September 6th. Finally, BMO Capital Markets set a $100.00 price target on Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Diamondback Energy has a consensus rating of “Buy” and an average target price of $126.42.
Diamondback Energy (FANG) opened at $109.25 on Wednesday. Diamondback Energy has a 52-week low of $82.77 and a 52-week high of $114.93. The stock has a market capitalization of $10,724.78, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 0.80 and a beta of 1.10. 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 (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.31. The business had revenue of $301.30 million for the quarter, compared to analyst estimates of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The business’s revenue was up 112.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. equities research analysts anticipate that Diamondback Energy will post 5.01 earnings per share for the current year.
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In other news, CFO Teresa L. Dick sold 5,000 shares of the stock in a transaction on Friday, November 10th. The stock was 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 of the company’s stock, valued at $3,550,450.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Hof Matthew Kaes Van’t sold 650 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $88.49, for a total value of $57,518.50. Following the completion of the transaction, the vice president now directly owns 4,950 shares of the company’s stock, valued at approximately $438,025.50. The disclosure for this sale can be found here. Insiders sold 23,805 shares of company stock worth $2,446,531 over the last ninety days. 0.41% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new position in shares of Diamondback Energy in the second quarter worth $102,000. Crossmark Global Holdings Inc. bought a new position in shares of Diamondback Energy in the third quarter worth $206,000. Commerce Bank bought a new position in shares of Diamondback Energy in the third quarter worth $208,000. 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 purchasing an additional 700 shares in the last quarter. Finally, American International Group Inc. grew its stake in shares of Diamondback Energy by 5.8% in the first quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock worth $239,000 after purchasing an additional 126 shares in the last quarter.
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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