Diamondback Energy, Inc. (FANG) Receives Average Recommendation of “Buy” from Brokerages
Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have been assigned a consensus rating of “Buy” from the twenty-six analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $115.33.
A number of analysts have recently weighed in on FANG shares. Scotiabank restated a “buy” rating and issued a $121.00 target price on shares of Diamondback Energy in a report on Monday, March 27th. Barclays PLC restated an “equal weight” rating and issued a $110.00 target price (down from $123.00) on shares of Diamondback Energy in a report on Saturday, April 22nd. Zacks Investment Research downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Monday, March 27th. Stifel Nicolaus began coverage on shares of Diamondback Energy in a report on Wednesday, April 12th. They set a “buy” rating and a $123.00 price target on the stock. Finally, Roth Capital set a $130.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, May 2nd.
Diamondback Energy (NASDAQ FANG) traded up 1.67% during mid-day trading on Monday, reaching $87.53. 741,532 shares of the company’s stock traded hands. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 1862.34 and a beta of 1.05. Diamondback Energy has a one year low of $82.77 and a one year high of $114.00. The firm’s 50-day moving average price is $93.33 and its 200 day moving average price is $100.47.
Diamondback Energy (NASDAQ:FANG) last posted its 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. Diamondback Energy had a net margin of 0.62% and a return on equity of 6.51%. The firm had revenue of $235.23 million for the quarter, compared to the consensus estimate of $218.62 million. On average, equities analysts forecast that Diamondback Energy will post $4.61 EPS for the current year.
In other news, Director Mark Lawrence Plaumann sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total value of $101,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven E. West purchased 2,400 shares of the stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average cost of $103.45 per share, with a total value of $248,280.00. Following 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. 0.41% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in FANG. Comerica Bank boosted its stake in shares of Diamondback Energy by 39.5% in the fourth quarter. Comerica Bank now owns 12,831 shares of the oil and natural gas company’s stock valued at $1,301,000 after buying an additional 3,633 shares during the last quarter. Credit Agricole S A acquired a new stake in shares of Diamondback Energy during the fourth quarter valued at $738,000. New York State Teachers Retirement System boosted its stake in shares of Diamondback Energy by 1.5% in the fourth quarter. New York State Teachers Retirement System now owns 6,900 shares of the oil and natural gas company’s stock valued at $697,000 after buying an additional 100 shares during the last quarter. Norges Bank acquired a new stake in shares of Diamondback Energy during the fourth quarter valued at $65,649,000. Finally, Quadrature Capital Ltd boosted its stake in shares of Diamondback Energy by 256.7% in the fourth quarter. Quadrature Capital Ltd now owns 26,648 shares of the oil and natural gas company’s stock valued at $2,693,000 after buying an additional 19,178 shares during the last quarter. 98.30% of the stock is owned by hedge funds and other 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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