Stephens began coverage on shares of Diamondback Energy (NASDAQ:FANG) in a report released on Thursday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $177.00 price target on the oil and natural gas company’s stock. Stephens’ target price would suggest a potential upside of 72.35% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley set a $171.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a report on Friday, October 12th. SunTrust Banks reaffirmed a “buy” rating and set a $170.00 price objective on shares of Diamondback Energy in a report on Friday, August 10th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $183.00 price objective on shares of Diamondback Energy in a report on Wednesday, October 24th. KLR Group reaffirmed a “buy” rating and set a $211.00 price objective on shares of Diamondback Energy in a report on Monday, August 20th. Finally, BidaskClub raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a report on Friday, September 21st. Five investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $160.27.

Shares of FANG opened at $102.70 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. Diamondback Energy has a 1 year low of $96.95 and a 1 year high of $140.78. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 0.58 and a beta of 0.72.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.15. Diamondback Energy had a net margin of 33.63% and a return on equity of 10.75%. The business had revenue of $538.03 million during the quarter, compared to analyst estimates of $518.32 million. During the same period last year, the firm posted $1.33 EPS. The company’s revenue was up 78.6% on a year-over-year basis. Analysts forecast that Diamondback Energy will post 6.74 earnings per share for the current fiscal year.

In related news, VP Russell Pantermuehl sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total value of $255,600.00. Following the completion of the sale, the vice president now directly owns 89,532 shares in the company, valued at $11,442,189.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new stake in Diamondback Energy in the third quarter worth $100,000. Belpointe Asset Management LLC bought a new stake in Diamondback Energy in the third quarter worth $113,000. Bray Capital Advisors bought a new stake in Diamondback Energy in the third quarter worth $116,000. First Hawaiian Bank bought a new stake in Diamondback Energy in the third quarter worth $121,000. Finally, Captrust Financial Advisors lifted its position in Diamondback Energy by 99.8% in the second quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock worth $131,000 after buying an additional 497 shares during the last quarter.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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