Diamondback Energy PT Raised to $54.00 (FANG)
Research analysts at Credit Suisse increased their target price on shares of Diamondback Energy (NASDAQ:FANG) from $50.00 to $54.00 in a report released on Wednesday, StockRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price target points to a potential upside of 20.89% from the company’s current price.
A number of other firms have also recently commented on FANG. Analysts at Northland Capital Partners initiated coverage on shares of Diamondback Energy (NASDAQ:FANG) in a research note to investors on Wednesday. They set an “outperform” rating and a $52.00 price target on the stock. Separately, analysts at Northland Securities initiated coverage on shares of Diamondback Energy (NASDAQ:FANG) in a research note to investors on Tuesday. They set an “outperform” rating on the stock. Finally, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Diamondback Energy (NASDAQ:FANG) in a research note to investors on Thursday, September 5th. They now have a $54.00 price target on the stock.
Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $46.00.
Shares of Diamondback Energy (NASDAQ:FANG) traded up 0.18% on Wednesday, hitting $44.67. The stock had a trading volume of 441,440 shares. Diamondback Energy has a 52 week low of $15.65 and a 52 week high of $47.22. The stock’s 50-day moving average is $41.87 and its 200-day moving average is $33.43. The company has a market cap of $1.883 billion and a P/E ratio of 85.59.
Diamondback Energy (NASDAQ:FANG) last released its earnings data on Tuesday, August 6th. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.04. The company had revenue of $45.40 million for the quarter, compared to the consensus estimate of $43.34 million. Diamondback Energy’s revenue was up 183.8% compared to the same quarter last year. On average, analysts predict that Diamondback Energy will post $1.29 earnings per share for the current fiscal year.
Diamondback Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.
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