Diamondback Energy Coverage Initiated by Analysts at Canaccord Genuity (FANG)
Stock analysts at Canaccord Genuity initiated coverage on shares of Diamondback Energy (NASDAQ:FANG) in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
A number of other firms have also recently commented on FANG. Analysts at Wunderlich raised their price target on shares of Diamondback Energy from $85.00 to $110.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at SunTrust reiterated a “buy” rating on shares of Diamondback Energy in a research note on Wednesday, June 25th. They now have a $102.00 price target on the stock, up previously from $89.00. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of Diamondback Energy in a research note on Wednesday, June 25th. They now have a $114.00 price target on the stock, up previously from $93.00. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $83.06.
In other Diamondback Energy news, CFO Teresa L. Dick unloaded 10,000 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $90.06, for a total transaction of $900,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Diamondback Energy (NASDAQ:FANG) opened at 88.80 on Tuesday. Diamondback Energy has a 1-year low of $33.51 and a 1-year high of $93.33. The stock has a 50-day moving average of $80.33 and a 200-day moving average of $65.44. The company has a market cap of $4.510 billion and a price-to-earnings ratio of 55.36.
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. On average, analysts predict that Diamondback Energy will post $2.77 earnings per share 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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