Diamondback Energy PT Raised to $65.00 (FANG)
Investment analysts at Wunderlich raised their price target on shares of Diamondback Energy (NASDAQ:FANG) from $55.00 to $65.00 in a note issued to investors on Friday, AnalystRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Wunderlich’s price target suggests a potential upside of 21.91% from the company’s current price.
Diamondback Energy (NASDAQ:FANG) traded down 1.26% during mid-day trading on Friday, hitting $53.32. The stock had a trading volume of 771,959 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 $2.248 billion and a P/E ratio of 103.65.
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 $1.24 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on FANG. Analysts at Raymond James raised their price target on shares of Diamondback Energy from $53.00 to $65.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Diamondback Energy from $48.00 to $50.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Finally, analysts at Topeka Capital Markets raised their price target on shares of Diamondback Energy from $54.00 to $60.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.69.
In other Diamondback Energy news, VP Jeffrey L. White sold 21,955 shares of the 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 transaction was disclosed in a document filed 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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