Diamondback Energy Given New $103.00 Price Target at KLR Group (FANG)
Equities research analysts at KLR Group boosted their target price on shares of Diamondback Energy (NASDAQ:FANG) from $5.00 to $103.00 in a research note issued to investors on Wednesday. KLR Group’s target price points to a potential upside of 13.74% from the stock’s previous close.
A number of other firms have also recently commented on FANG. Analysts at Topeka Capital Markets raised their price target on shares of Diamondback Energy from $86.00 to $100.00 in a research note on Monday. They now have a “buy” rating on the stock. They noted that the move was a valuation call. Separately, analysts at Mizuho raised their price target on shares of Diamondback Energy from $90.00 to $102.00 in a research note on Monday. They now have a “buy” rating on the stock. Finally, analysts at Roth Capital raised their price target on shares of Diamondback Energy from $77.00 to $91.00 in a research note on Thursday, June 19th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Diamondback Energy presently has a consensus rating of “Buy” and an average price target of $80.47.
Diamondback Energy (NASDAQ:FANG) traded up 3.27% on Wednesday, hitting $90.56. 1,900,880 shares of the company’s stock traded hands. Diamondback Energy has a one year low of $32.61 and a one year high of $93.33. The stock’s 50-day moving average is $78.46 and its 200-day moving average is $64.14. The company has a market cap of $4.599 billion and a price-to-earnings ratio of 54.74.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.53 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.12 earnings per share. Diamondback Energy’s revenue was up 239.1% compared to the same quarter last year. On average, analysts predict that Diamondback Energy will post $2.75 earnings per share for the current fiscal year.
In other Diamondback Energy news, CFO Teresa L. Dick sold 10,000 shares of Diamondback Energy stock on the open market in a transaction dated Friday, June 20th. The stock was sold at an average price of $90.06, for a total value of $900,600.00. The transaction 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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