Diamondback Energy Inc. (FANG) Receives Hold Rating from Williams Capital
Diamondback Energy Inc. (NASDAQ:FANG)‘s stock had its “hold” rating reiterated by Williams Capital in a note issued to investors on Monday. They currently have a $112.00 price target on the stock, up from their prior price target of $105.00. Williams Capital’s price objective would indicate a potential upside of 6.45% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. Simmons restated an “overweight” rating and set a $109.00 target price (up previously from $106.00) on shares of Diamondback Energy in a report on Saturday, August 13th. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Wednesday, June 29th. Barclays PLC upped their target price on Diamondback Energy from $85.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 14th. KLR Group restated a “buy” rating and set a $122.00 target price (up previously from $103.00) on shares of Diamondback Energy in a report on Monday, July 18th. Finally, BMO Capital Markets restated a “buy” rating and set a $95.00 target price on shares of Diamondback Energy in a report on Wednesday, August 3rd. Seven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Diamondback Energy currently has an average rating of “Buy” and an average price target of $95.76.
Shares of Diamondback Energy (NASDAQ:FANG) traded up 11.10% during trading on Monday, reaching $105.21. The company’s stock had a trading volume of 3,583,497 shares. The stock’s 50 day moving average is $93.74 and its 200 day moving average is $89.08. The firm’s market cap is $8.21 billion. Diamondback Energy has a one year low of $55.48 and a one year high of $106.03.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/10/diamondback-energy-inc-fang-pt-raised-to-112-00.html
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.10. The company earned $112.48 million during the quarter, compared to the consensus estimate of $112.47 million. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. On average, equities analysts forecast that Diamondback Energy will post $1.00 EPS for the current fiscal year.
In related news, COO Michael L. Hollis sold 1,000 shares of the stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Elizabeth Moses sold 2,000 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $88.66, for a total value of $177,320.00. Following the sale, the vice president now owns 11,709 shares of the company’s stock, valued at approximately $1,038,119.94. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors boosted its position in Diamondback Energy by 3.3% in the first quarter. BlackRock Fund Advisors now owns 798,166 shares of the company’s stock valued at $61,602,000 after buying an additional 25,366 shares in the last quarter. Geode Capital Management LLC boosted its position in Diamondback Energy by 12.0% in the first quarter. Geode Capital Management LLC now owns 466,203 shares of the company’s stock valued at $35,981,000 after buying an additional 49,821 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Diamondback Energy by 3.2% in the first quarter. Nuveen Asset Management LLC now owns 23,811 shares of the company’s stock valued at $1,838,000 after buying an additional 744 shares in the last quarter. Magnetar Financial LLC boosted its position in Diamondback Energy by 87.2% in the first quarter. Magnetar Financial LLC now owns 748,600 shares of the company’s stock valued at $57,777,000 after buying an additional 348,600 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in Diamondback Energy by 20.5% in the first quarter. BlackRock Group LTD now owns 130,421 shares of the company’s stock valued at $10,064,000 after buying an additional 22,155 shares in the last quarter. Institutional investors and hedge funds own 99.74% of the company’s stock.
Diamondback Energy Company Profile
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. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.
Receive News & Ratings for Diamondback Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.