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Diamondback Energy (NASDAQ:FANG) shares fell 1.8% during mid-day trading on Wednesday after Canaccord Genuity lowered their price target on the stock from $121.00 to $114.00, Analyst Ratings Network.com reports. The stock traded as low as $81.78 and last traded at $82.37, with a volume of 377,161 shares traded. The stock had previously closed at $83.88.

Several other analysts have also recently commented on the stock. 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. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Diamondback Energy currently has an average rating of “Buy” and a consensus target price of $97.63.

The stock has a 50-day moving average of $82.34 and a 200-day moving average of $74.95. The company has a market cap of $4.678 billion and a P/E ratio of 46.99.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.70 earnings per share 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. On average, analysts predict that Diamondback Energy will post $2.68 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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