Diamondback Energy Inc (FANG) Receives “Buy” Rating from Stifel Nicolaus
Diamondback Energy Inc (NASDAQ:FANG)‘s stock had its “buy” rating reissued by investment analysts at Stifel Nicolaus in a report released on Friday.
A number of other brokerages have also commented on FANG. Barclays PLC reissued an “equal weight” rating and set a $120.00 price objective (up previously from $108.00) on shares of Diamondback Energy in a report on Thursday, January 26th. Scotiabank reissued a “buy” rating and set a $121.00 price objective on shares of Diamondback Energy in a report on Thursday, May 4th. Zacks Investment Research raised Diamondback Energy from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a report on Thursday, February 9th. Williams Capital reissued a “hold” rating and set a $120.00 price objective on shares of Diamondback Energy in a report on Wednesday, May 3rd. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $141.00 price objective on shares of Diamondback Energy in a report on Thursday. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $117.50.
Diamondback Energy (NASDAQ:FANG) traded down 1.22% during mid-day trading on Friday, reaching $98.41. The company had a trading volume of 1,363,398 shares. Diamondback Energy has a 12 month low of $82.80 and a 12 month high of $114.00. The stock’s 50-day moving average is $101.67 and its 200 day moving average is $102.42. The firm has a market capitalization of $9.66 billion, a P/E ratio of 2093.83 and a beta of 1.12.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, May 2nd. The oil and natural gas company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.43. The business had revenue of $235.23 million for the quarter, compared to analyst estimates of $218.62 million. Diamondback Energy had a positive return on equity of 4.26% and a negative net margin of 82.83%. On average, analysts predict that Diamondback Energy will post $4.65 earnings per share for the current fiscal year.
In other news, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $105.34, for a total value of $526,700.00. Following the completion of the sale, the vice president now directly owns 83,214 shares of the company’s stock, valued at approximately $8,765,762.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Lawrence Plaumann sold 1,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total value of $101,520.00. The disclosure for this sale can be found here. Insiders sold a total of 10,000 shares of company stock valued at $1,044,240 over the last three months. Insiders own 0.35% of the company’s stock.
Several large investors have recently added to or reduced their stakes in FANG. Toronto Dominion Bank boosted its stake in Diamondback Energy by 26.2% in the first quarter. Toronto Dominion Bank now owns 969 shares of the oil and natural gas company’s stock valued at $100,000 after buying an additional 201 shares during the period. Creative Planning boosted its stake in Diamondback Energy by 7.3% in the third quarter. Creative Planning now owns 1,073 shares of the oil and natural gas company’s stock valued at $104,000 after buying an additional 73 shares during the period. Winch Advisory Services LLC purchased a new stake in Diamondback Energy during the first quarter valued at approximately $105,000. BOKF NA boosted its stake in Diamondback Energy by 12.8% in the third quarter. BOKF NA now owns 1,208 shares of the oil and natural gas company’s stock valued at $116,000 after buying an additional 137 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Diamondback Energy by 56.6% in the second quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the oil and natural gas company’s stock valued at $125,000 after buying an additional 491 shares during the period. 95.51% of the stock is owned by institutional investors.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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