Diamondback Energy Given Consensus Rating of “Buy” by Brokerages (NASDAQ:FANG)
Diamondback Energy (NASDAQ:FANG) has received an average rating of “Buy” from the nineteen analysts that are currently covering the stock, American Banking & Market 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 12-month target price among analysts that have updated their coverage on the stock in the last year is $98.06.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 79.98 on Tuesday. Diamondback Energy has a 52 week low of $39.17 and a 52 week high of $93.33. The stock has a 50-day moving average of $82.56 and a 200-day moving average of $74.18. The company has a market cap of $4.529 billion and a price-to-earnings ratio of 45.23.
Diamondback Energy (NASDAQ:FANG) last released its earnings data on Tuesday, August 5th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 179.7% on a year-over-year basis. Analysts expect that Diamondback Energy will post $2.68 EPS for the current fiscal year.
A number of research firms have recently commented on FANG. Analysts at Tudor Pickering upgraded shares of Diamondback Energy from an “accumulate” rating to a “buy” rating in a research note on Friday, August 15th. 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.
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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