Diamondback Energy PT Raised to $58.00 (FANG)
Northland Capital Partners raised their price target on shares of Diamondback Energy (NASDAQ:FANG) from $52.00 to $58.00 in a research note issued on Thursday, ARN reports. The firm currently has an “outperform” rating on the stock. Northland Capital Partners’ target price would indicate a potential upside of 18.13% from the company’s current price.
Several other analysts have also recently commented on the stock. 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 investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.79.
Shares of Diamondback Energy (NASDAQ:FANG) traded up 5.44% during mid-day trading on Thursday, hitting $51.77. The stock had a trading volume of 718,988 shares. 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 $41.47 and its 200-day moving average is $32.93. The company has a market cap of $2.183 billion and a P/E ratio of 94.24.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data 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. Diamondback Energy’s revenue was up 183.8% compared to the same quarter last year. Analysts expect that Diamondback Energy will post $1.24 EPS for the current fiscal year.
In other Diamondback Energy news, VP Jeffrey L. White sold 21,955 shares of the stock on the open market in a transaction dated Thursday, October 17th. The stock was sold at an average price of $49.83, for a total transaction of $1,094,017.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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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