Diamondback Energy Given New $69.00 Price Target at SunTrust (FANG)
Analysts at SunTrust raised their target price on shares of Diamondback Energy (NASDAQ:FANG) from $60.00 to $69.00 in a research report issued to clients and investors on Friday, AnalystRatings.Net reports. The firm currently has a “buy” rating on the stock. SunTrust’s target price would suggest a potential upside of 49.97% from the company’s current price.
A number of other analysts have also recently weighed in on FANG. Analysts at Canaccord Genuity downgraded shares of Diamondback Energy (NASDAQ:FANG) from a “buy” rating to a “hold” rating in a research note to investors on Thursday, September 26th. They now have a $47.00 price target on the stock, up previously from $45.00. They noted that the move was a valuation call. Separately, analysts at Sterne Agee upgraded shares of Diamondback Energy (NASDAQ:FANG) from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, September 24th. They now have a $54.00 price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Diamondback Energy (NASDAQ:FANG) from $50.00 to $54.00 in a research note to investors on Wednesday, September 18th. They now have an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $47.36.
In other Diamondback Energy news, VP Paul Molnar sold 13,230 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $43.39, for a total value of $574,049.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Diamondback Energy (NASDAQ:FANG) traded up 4.97% during mid-day trading on Friday, hitting $46.01. 646,644 shares of the company’s stock traded hands. Diamondback Energy has a one year low of $15.65 and a one year high of $47.22. The stock has a 50-day moving average of $42. and a 200-day moving average of $34.95. The company has a market cap of $1.940 billion and a P/E ratio of 84.13.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters 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. The company’s quarterly revenue was up 183.8% on a year-over-year basis. Analysts expect that Diamondback Energy will post $1.29 EPS 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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