SunTrust Increases Diamondback Energy Price Target to $112.00 (FANG)
SunTrust hoisted their price target on shares of Diamondback Energy (NASDAQ:FANG) from $102.00 to $112.00 in a research note issued on Friday. SunTrust’s target price suggests a potential upside of 30.66% from the stock’s previous close.
Diamondback Energy (NASDAQ:FANG) traded down 2.08% on Friday, hitting $83.94. 382,484 shares of the company’s stock traded hands. Diamondback Energy has a 52 week low of $36.23 and a 52 week high of $93.33. The stock has a 50-day moving average of $83.88 and a 200-day moving average of $67.37. The company has a market cap of $4.263 billion and a price-to-earnings ratio of 53.51.
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 $2.79 EPS for the current fiscal year.
In other Diamondback Energy news, CEO Travis D. Stice unloaded 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $89.24, for a total value of $6,693,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on FANG. Analysts at Canaccord Genuity initiated coverage on shares of Diamondback Energy in a research note on Tuesday, July 1st. They set a “buy” rating and a $108.00 price target on the stock. Separately, analysts at Wunderlich raised their price target on shares of Diamondback Energy from $85.00 to $110.00 in a research note on Tuesday, July 1st. They now have a “buy” rating on the stock. 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 equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Diamondback Energy currently has an average rating of “Buy” and a consensus target price of $85.12.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.