Diamondback Energy (NASDAQ:FANG) had its price target lowered by investment analysts at Morgan Stanley from $143.00 to $140.00 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 44.73% from the stock’s previous close.

Several other research analysts also recently commented on the company. Wells Fargo & Co raised their target price on Diamondback Energy from $169.00 to $171.00 and gave the stock an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. restated a “buy” rating and issued a $149.00 target price (down previously from $155.00) on shares of Diamondback Energy in a research note on Wednesday. Roth Capital cut their target price on Diamondback Energy from $166.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Oppenheimer set a $151.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, TD Securities raised their target price on Diamondback Energy from $155.00 to $160.00 and gave the stock an “action list buy” rating in a research note on Thursday, June 20th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and three have issued a strong buy rating to the stock. Diamondback Energy presently has a consensus rating of “Buy” and an average target price of $157.30.

NASDAQ FANG traded down $3.21 during trading hours on Wednesday, hitting $96.73. The company had a trading volume of 10,903 shares, compared to its average volume of 1,793,832. Diamondback Energy has a 52 week low of $85.19 and a 52 week high of $140.78. The company’s 50 day moving average is $103.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.82 and a quick ratio of 0.79. The company has a market capitalization of $15.88 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 0.64 and a beta of 0.82.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.04). Diamondback Energy had a return on equity of 6.50% and a net margin of 26.92%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business earned $1.59 EPS. The firm’s revenue for the quarter was up 93.7% compared to the same quarter last year. Sell-side analysts forecast that Diamondback Energy will post 7.28 earnings per share for the current year.

In other news, CEO Travis D. Stice acquired 4,186 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $95.55 per share, with a total value of $399,972.30. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, VP Russell Pantermuehl sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $107.28, for a total value of $536,400.00. Following the transaction, the vice president now directly owns 112,107 shares in the company, valued at $12,026,838.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,500 shares of company stock worth $1,258,505. 0.47% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in FANG. Vanguard Group Inc. boosted its stake in shares of Diamondback Energy by 1.6% in the second quarter. Vanguard Group Inc. now owns 17,698,267 shares of the oil and natural gas company’s stock worth $1,928,581,000 after acquiring an additional 275,764 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Diamondback Energy by 11.4% in the 1st quarter. JPMorgan Chase & Co. now owns 13,528,463 shares of the oil and natural gas company’s stock valued at $1,373,546,000 after buying an additional 1,388,245 shares in the last quarter. BlackRock Inc. raised its stake in shares of Diamondback Energy by 4.7% in the 2nd quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock valued at $1,167,931,000 after buying an additional 485,647 shares in the last quarter. Boston Partners raised its stake in shares of Diamondback Energy by 16.5% in the 1st quarter. Boston Partners now owns 3,990,944 shares of the oil and natural gas company’s stock valued at $405,201,000 after buying an additional 566,290 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Diamondback Energy by 128.1% in the 4th quarter. Geode Capital Management LLC now owns 2,040,175 shares of the oil and natural gas company’s stock valued at $188,797,000 after buying an additional 1,145,573 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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