Diamondback Energy Inc. (FANG) PT Raised to $108.00
Diamondback Energy Inc. (NASDAQ:FANG) had its price objective hoisted by analysts at Barclays PLC from $88.00 to $108.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has an “equal weight” rating on the stock. Barclays PLC’s price target would indicate a potential upside of 2.65% from the stock’s previous close.
FANG has been the subject of several other reports. Mizuho assumed coverage on Diamondback Energy in a research report on Wednesday, October 5th. They issued a “buy” rating and a $105.00 price target for the company. Canaccord Genuity raised Diamondback Energy from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, July 20th. Nomura reissued a “buy” rating and issued a $17.00 price target on shares of Diamondback Energy in a research report on Monday, September 26th. Deutsche Bank AG reissued a “buy” rating and issued a $104.00 price target on shares of Diamondback Energy in a research report on Thursday, August 4th. Finally, KLR Group boosted their price target on Diamondback Energy from $126.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday. Seven 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 stock. The stock has an average rating of “Buy” and an average target price of $98.17.
Diamondback Energy (NASDAQ:FANG) traded down 0.176% on Tuesday, reaching $105.025. The company’s stock had a trading volume of 1,101,274 shares. The firm’s 50 day moving average price is $94.07 and its 200-day moving average price is $89.20. The company’s market capitalization is $8.20 billion. Diamondback Energy has a 1-year low of $55.48 and a 1-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-pt-raised-to-108-00.html
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The firm earned $112.48 million during the quarter, compared to analyst estimates of $112.47 million. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. 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 posted $0.41 EPS. Equities analysts forecast that Diamondback Energy will post $1.00 earnings per share for the current year.
In other Diamondback Energy news, VP Elizabeth Moses sold 2,000 shares of the firm’s stock in a transaction on 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 directly owns 11,709 shares in the company, valued at $1,038,119.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Teresa L. Dick sold 1,000 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $95.71, for a total value of $95,710.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares in the company, valued at $2,464,532.50. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Miles Capital Inc. boosted its stake in Diamondback Energy by 1.5% in the second quarter. Miles Capital Inc. now owns 4,755 shares of the company’s stock worth $434,000 after buying an additional 69 shares in the last quarter. IBM Retirement Fund boosted its stake in Diamondback Energy by 1.1% in the second quarter. IBM Retirement Fund now owns 7,238 shares of the company’s stock worth $660,000 after buying an additional 77 shares in the last quarter. Fifth Third Bancorp boosted its stake in Diamondback Energy by 0.9% in the second quarter. Fifth Third Bancorp now owns 14,292 shares of the company’s stock worth $1,304,000 after buying an additional 122 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake 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 in the last quarter. Finally, Geneva Advisors LLC boosted its stake in Diamondback Energy by 1.4% in the second quarter. Geneva Advisors LLC now owns 10,670 shares of the company’s stock worth $973,000 after buying an additional 150 shares in the last quarter. 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.