Diamondback Energy, Inc. (NASDAQ:FANG) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages have also recently commented on FANG. Mizuho reissued a “buy” rating and set a $124.00 target price on shares of Diamondback Energy in a report on Thursday, February 16th. Wunderlich increased their target price on Diamondback Energy from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, February 16th. Canaccord Genuity increased their target price on Diamondback Energy to $145.00 in a report on Thursday, February 16th. Zacks Investment Research raised Diamondback Energy from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a report on Monday, February 20th. Finally, Stifel Nicolaus assumed coverage on Diamondback Energy in a report on Wednesday, April 12th. They set a “buy” rating and a $123.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $118.36.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

Shares of Diamondback Energy (NASDAQ FANG) traded down 3.29% during midday trading on Wednesday, reaching $89.40. The company had a trading volume of 1,594,199 shares. Diamondback Energy has a 12-month low of $82.80 and a 12-month high of $114.00. The company has a 50 day moving average of $97.88 and a 200 day moving average of $102.00. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 1902.13 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.43. The company had revenue of $235.23 million during the quarter, compared to analysts’ expectations of $218.62 million. Diamondback Energy had a return on equity of 6.51% and a net margin of 0.62%. Analysts anticipate that Diamondback Energy will post $4.63 EPS for the current year.

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In other Diamondback Energy news, Director Steven E. West acquired 2,400 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was bought at an average cost of $103.45 per share, for a total transaction of $248,280.00. Following the completion of the transaction, the director now owns 2,400 shares of the company’s stock, valued at approximately $248,280. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was 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. Corporate insiders own 0.35% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS Asset Management Americas Inc. raised its position in shares of Diamondback Energy by 262.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 558,659 shares of the oil and natural gas company’s stock valued at $56,456,000 after buying an additional 404,345 shares during the last quarter. Zimmer Partners LP raised its position in shares of Diamondback Energy by 43.7% in the fourth quarter. Zimmer Partners LP now owns 1,449,064 shares of the oil and natural gas company’s stock valued at $146,442,000 after buying an additional 440,876 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Diamondback Energy by 5.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 268,944 shares of the oil and natural gas company’s stock valued at $27,894,000 after buying an additional 14,331 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Diamondback Energy during the first quarter valued at $2,207,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Diamondback Energy during the fourth quarter valued at $1,573,000. Institutional investors own 98.39% of the company’s stock.

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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