KLR Group Boosts Diamondback Energy Inc. (FANG) Price Target to $139.00
Diamondback Energy Inc. (NASDAQ:FANG) had its price target raised by investment analysts at KLR Group from $126.00 to $139.00 in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the stock. KLR Group’s target price points to a potential upside of 32.12% from the stock’s previous close.
FANG has been the subject of several other reports. Mizuho began coverage on shares of Diamondback Energy in a report on Wednesday, October 5th. They issued a “buy” rating and a $105.00 target price for the company. Canaccord Genuity raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, July 20th. Nomura reaffirmed a “buy” rating and issued a $17.00 target price on shares of Diamondback Energy in a report on Monday, September 26th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $104.00 target price on shares of Diamondback Energy in a report on Thursday, August 4th. Finally, Simmons reaffirmed an “overweight” rating and issued a $106.00 target price (up from $101.00) on shares of Diamondback Energy in a report on Tuesday, July 26th. Seven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $98.17.
Shares of Diamondback Energy (NASDAQ:FANG) traded down 0.57% during mid-day trading on Tuesday, reaching $104.61. 1,154,970 shares of the company’s stock were exchanged. The stock’s market cap is $8.16 billion. The company has a 50 day moving average price of $94.07 and a 200-day moving average price of $89.20. Diamondback Energy has a one year low of $55.48 and a one year high of $106.84.
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 https://www.americanbankingnews.com/2016/10/11/diamondback-energy-inc-fang-price-target-increased-to-136-00-by-analysts-at-klr-group.html
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.10. The business earned $112.48 million during the quarter, compared to analysts’ expectations of $112.47 million. Diamondback Energy had a negative net margin of 124.95% and a positive return on equity of 3.82%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. On average, analysts predict that Diamondback Energy will post $1.00 EPS for the current year.
In other news, COO Michael L. Hollis sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $90.39, for a total value of $180,780.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael L. Hollis sold 1,000 shares of the company’s 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 disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Seven Eight Capital LLC bought a new position in Diamondback Energy during the second quarter worth approximately $119,000. Advisor Group Inc. bought a new position in Diamondback Energy during the second quarter worth approximately $120,000. PNC Financial Services Group Inc. boosted its position in Diamondback Energy by 56.6% in the second quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the company’s stock worth $125,000 after buying an additional 491 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Diamondback Energy by 537.9% in the third quarter. BNP Paribas Arbitrage SA now owns 1,499 shares of the company’s stock worth $145,000 after buying an additional 1,264 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in Diamondback Energy by 7.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 2,082 shares of the company’s stock worth $161,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors 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.