Diamondback Energy PT Raised to $90.00 at Mizuho (FANG)
Mizuho raised their price target on shares of Diamondback Energy (NASDAQ:FANG) from $80.00 to $90.00 in a research note issued on Friday. Mizuho’s price objective indicates a potential upside of 13.58% from the company’s current price.
Diamondback Energy (NASDAQ:FANG) opened at 79.24 on Friday. Diamondback Energy has a 52 week low of $30.76 and a 52 week high of $79.87. The stock has a 50-day moving average of $73.31 and a 200-day moving average of $60.53. The company has a market cap of $4.025 billion and a P/E ratio of 49.03.
Diamondback Energy (NASDAQ:FANG) last released its earnings data on Wednesday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by $0.03. The company had revenue of $98.00 million for the quarter, compared to the consensus estimate of $98.87 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 239.1% on a year-over-year basis. Analysts expect that Diamondback Energy will post $2.77 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on FANG. Analysts at Topeka Capital Markets raised their price target on shares of Diamondback Energy from $78.00 to $86.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at SunTrust upgraded shares of Diamondback Energy from a “neutral” rating to a “buy” rating in a research note on Monday. They now have a $89.00 price target on the stock, up previously from $76.00. Finally, analysts at Wunderlich reiterated a “buy” rating on shares of Diamondback Energy in a research note on Friday, May 9th. They now have a $85.00 price target on the stock. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $72.76.
In other Diamondback Energy news, major shareholder Wexford Capital Lp unloaded 84,445 shares of the company’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $73.63, for a total transaction of $6,217,685.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
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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