BMO Capital Markets Reiterates Buy Rating for Diamondback Energy, Inc. (FANG)
Diamondback Energy, Inc. (NASDAQ:FANG)‘s stock had its “buy” rating reissued by analysts at BMO Capital Markets in a report issued on Tuesday. They presently have a $100.00 price objective on the oil and natural gas company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 13.65% from the stock’s previous close.
A number of other brokerages have also weighed in on FANG. Zacks Investment Research lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, April 4th. Stifel Nicolaus assumed coverage on Diamondback Energy in a research report on Wednesday, April 12th. They issued a “buy” rating and a $123.00 target price for the company. TheStreet raised Diamondback Energy from a “c” rating to a “b-” rating in a research report on Friday, March 3rd. Barclays PLC reissued an “equal weight” rating and issued a $110.00 target price (down previously from $123.00) on shares of Diamondback Energy in a research report on Saturday, April 22nd. Finally, Scotiabank reissued a “buy” rating and issued a $121.00 target price on shares of Diamondback Energy in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $117.57.
Diamondback Energy (NASDAQ:FANG) traded up 0.79% during mid-day trading on Tuesday, reaching $87.99. 1,269,039 shares of the company were exchanged. The stock has a 50-day moving average price of $95.79 and a 200 day moving average price of $101.38. The company has a market capitalization of $8.63 billion, a PE ratio of 1872.13 and a beta of 1.04. Diamondback Energy has a one year low of $82.80 and a one year high of $114.00.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.43. Diamondback Energy had a return on equity of 6.51% and a net margin of 0.62%. The business had revenue of $235.23 million during the quarter, compared to analyst estimates of $218.62 million. Analysts predict that Diamondback Energy will post $4.57 EPS for the current year.
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In other news, 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 transaction of $101,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven E. West bought 2,400 shares of the stock in a transaction dated Wednesday, May 17th. The shares were purchased at an average price of $103.45 per share, with a total value of $248,280.00. Following the completion of the transaction, the director now directly owns 2,400 shares in the company, valued at approximately $248,280. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank raised 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 last quarter. Winch Advisory Services LLC bought a new stake in Diamondback Energy during the first quarter valued at $105,000. State of Alaska Department of Revenue bought a new stake in Diamondback Energy during the first quarter valued at $180,000. Stevens Capital Management LP bought a new stake in Diamondback Energy during the first quarter valued at $201,000. Finally, Teza Capital Management LLC bought a new stake in Diamondback Energy during the first quarter valued at $202,000. Hedge funds and other institutional investors own 98.30% 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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