Diamondback Energy Receives Consensus Recommendation of “Buy” from Brokerages (NASDAQ:FANG)
Diamondback Energy (NASDAQ:FANG) has been given an average rating of “Buy” by the nineteen ratings firms that are presently covering the company, Analyst Ratings News reports. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $98.06.
A number of analysts have recently weighed in on FANG shares. Analysts at Tudor Pickering upgraded shares of Diamondback Energy from an “accumulate” rating to a “buy” rating in a research note on Friday. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, August 7th. They now have a $110.00 price target on the stock, down previously from $115.00. Finally, analysts at Howard Weil raised their price target on shares of Diamondback Energy from $97.00 to $104.00 in a research note on Thursday, August 7th. They now have a “sector outperform” rating on the stock.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 79.78 on Tuesday. Diamondback Energy has a 1-year low of $38.10 and a 1-year high of $93.33. The stock’s 50-day moving average is $83.55 and its 200-day moving average is $73.6. The company has a market cap of $4.518 billion and a price-to-earnings ratio of 44.69.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, August 5th. The company reported $0.70 EPS for the quarter, beating the analysts’ consensus estimate of $0.69 by $0.01. The company had revenue of $127.00 million for the quarter, compared to the consensus estimate of $126.64 million. During the same quarter last year, the company posted $0.30 earnings per share. Diamondback Energy’s revenue was up 179.7% compared to the same quarter last year. Analysts expect that Diamondback Energy will post $2.68 EPS 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.