Diamondback Energy’s Buy Rating Reaffirmed at Sterne Agee (FANG)
Diamondback Energy (NASDAQ:FANG)‘s stock had its “buy” rating reiterated by equities researchers at Sterne Agee in a research report issued on Friday, StockRatingsNetwork reports. They currently have a $54.00 price target on the stock. Sterne Agee’s target price points to a potential upside of 17.37% from the stock’s previous close.
In other Diamondback Energy news, VP Paul Molnar unloaded 13,230 shares of Diamondback Energy stock on the open market in a transaction dated Friday, September 20th. The shares were sold at an average price of $43.39, for a total transaction of $574,049.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
FANG has been the subject of a number of other recent research reports. Analysts at SunTrust raised their price target on shares of Diamondback Energy (NASDAQ:FANG) from $60.00 to $69.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, 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. 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 given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $47.36.
Shares of Diamondback Energy (NASDAQ:FANG) traded up 4.97% on Friday, hitting $46.01. 646,644 shares of the company’s stock traded hands. Diamondback Energy has a 1-year low of $15.65 and a 1-year high of $47.22. The stock’s 50-day moving average is $42. and its 200-day moving average is $34.95. The company has a market cap of $1.940 billion and a price-to-earnings ratio of 84.13.
Diamondback Energy (NASDAQ:FANG) last announced its 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. 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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