Diamondback Energy Inc. Sets New 1-Year High at $54.17 (FANG)
Diamondback Energy (NASDAQ:FANG)’s share price reached a new 52-week high on Monday, AR Network reports. The company traded as high as $54.17 and last traded at $53.19, with a volume of 704,584 shares traded. The stock had previously closed at $52.18.
FANG has been the subject of a number of recent research reports. Analysts at Sterne Agee reiterated a “buy” rating on shares of Diamondback Energy in a research note to investors on Friday, October 4th. They now have a $54.00 price target on the stock. Separately, analysts at SunTrust raised their price target on shares of Diamondback Energy from $60.00 to $69.00 in a research note to investors on Friday, October 4th. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity downgraded shares of Diamondback Energy 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. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Diamondback Energy has an average rating of “Buy” and a consensus price target of $47.36.
In other Diamondback Energy news, VP Jeffrey L. White sold 21,955 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $49.83, for a total value of $1,094,017.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Diamondback Energy has a 52 week low of $15.65 and a 52 week high of $52.39. The stock’s 50-day moving average is $44.70 and its 200-day moving average is $36.56. The company has a market cap of $2.224 billion and a price-to-earnings ratio of 100.15.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the 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 revenue for the quarter was up 183.8% on a year-over-year basis. Analysts expect that Diamondback Energy will post $1.24 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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