Wunderlich Boosts Diamondback Energy Inc. (FANG) Price Target to $130.00
Diamondback Energy Inc. (NASDAQ:FANG) had its price target lifted by analysts at Wunderlich from $110.00 to $130.00 in a research note issued to investors on Tuesday, StockTargetPrices.com reports. The brokerage presently has a “buy” rating on the stock. Wunderlich’s price target points to a potential upside of 23.56% from the company’s previous close.
A number of other equities research analysts have also recently commented on the company. Simmons reissued an “overweight” rating and issued a $109.00 target price (up from $106.00) on shares of Diamondback Energy in a research note on Saturday, August 13th. Zacks Investment Research downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Friday, September 30th. Piper Jaffray Cos. began coverage on Diamondback Energy in a report on Monday, July 11th. They set an “overweight” rating and a $101.00 price target on the stock. Roth Capital reaffirmed a “hold” rating on shares of Diamondback Energy in a report on Tuesday, July 12th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $104.00 price target on shares of Diamondback Energy in a report on Thursday, August 4th. Seven analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $96.45.
Diamondback Energy (NASDAQ:FANG) opened at 105.21 on Tuesday. The stock’s market cap is $8.21 billion. Diamondback Energy has a 12-month low of $55.48 and a 12-month high of $106.03. The firm’s 50-day moving average price is $94.07 and its 200-day moving average price is $89.20.
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Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The firm had revenue of $112.48 million for the quarter, compared to analysts’ expectations of $112.47 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities analysts predict that Diamondback Energy will post $1.00 EPS for the current fiscal year.
In related news, VP Elizabeth Moses sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $88.66, for a total transaction of $177,320.00. Following the completion of the sale, the vice president now directly owns 11,709 shares of the company’s stock, valued at approximately $1,038,119.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $98.00, for a total value of $2,940,000.00. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Seven Eight Capital LLC acquired a new stake in shares of Diamondback Energy during the second quarter worth about $119,000. Advisor Group Inc. acquired a new stake in shares of Diamondback Energy during the second quarter worth about $120,000. PNC Financial Services Group Inc. raised its stake in shares of 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 in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of 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 in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of 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. 99.74% of the stock is owned by hedge funds and other institutional investors.
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.
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