Diamondback Energy Inc. (FANG) Upgraded by Stephens to Overweight
Diamondback Energy Inc. (NASDAQ:FANG) was upgraded by equities research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, The Fly reports.
FANG has been the topic of a number of other reports. Mizuho assumed coverage on Diamondback Energy in a research report on Wednesday, October 5th. They set a “buy” rating and a $105.00 target price on the stock. Canaccord Genuity raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Wednesday, July 20th. Nomura reaffirmed a “buy” rating and issued a $17.00 price target on shares of Diamondback Energy in a research note on Monday, September 26th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $104.00 price target on shares of Diamondback Energy in a research note on Thursday, August 4th. Finally, Raymond James Financial Inc. reaffirmed an “outperform” rating and issued a $117.00 price target (up from $104.00) on shares of Diamondback Energy in a research note on Thursday. Five research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Diamondback Energy has a consensus rating of “Buy” and a consensus target price of $99.86.
Diamondback Energy (NASDAQ:FANG) traded down 1.67% on Monday, hitting $99.21. The stock had a trading volume of 426,672 shares. Diamondback Energy has a 12 month low of $55.48 and a 12 month high of $106.84. The stock’s market cap is $7.74 billion. The firm’s 50 day moving average price is $94.88 and its 200-day moving average price is $89.69.
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Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate 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 last year, the firm earned $0.41 EPS. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, analysts forecast that Diamondback Energy will post $1.00 EPS for the current year.
In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $85.34, for a total value of $170,680.00. Following the completion of the transaction, the vice president now owns 67,914 shares in the company, valued at $5,795,780.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael L. Hollis sold 10,000 shares of the business’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $104.00, for a total transaction of $1,040,000.00. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Granahan Investment Management Inc. MA acquired a new position in Diamondback Energy during the first quarter valued at approximately $5,457,000. Hancock Holding Co. boosted its stake in Diamondback Energy by 0.7% in the first quarter. Hancock Holding Co. now owns 115,970 shares of the company’s stock valued at $8,951,000 after buying an additional 850 shares during the period. Wellington Management Group LLP boosted its stake in Diamondback Energy by 0.4% in the first quarter. Wellington Management Group LLP now owns 7,512,803 shares of the company’s stock valued at $579,839,000 after buying an additional 26,247 shares during the period. Geode Capital Management LLC boosted its stake 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 during the period. Finally, Rafferty Asset Management LLC purchased a new stake in Diamondback Energy during the first quarter valued at about $489,000. 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.
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