Research analysts at Bank of America Corporation assumed coverage on shares of Diamondback Energy, Inc. (NASDAQ:FANG) in a report issued on Wednesday, The Fly reports. The brokerage set a “buy” rating on the oil and natural gas company’s stock.

Several other equities analysts have also recently weighed in on FANG. UBS AG started coverage on Diamondback Energy in a report on Thursday, March 23rd. They set a “neutral” rating and a $114.00 price objective on the stock. Zacks Investment Research cut Diamondback Energy from a “buy” rating to a “hold” rating in a report on Monday, March 27th. Scotiabank reiterated a “buy” rating and set a $121.00 price objective on shares of Diamondback Energy in a report on Monday, March 27th. Stifel Nicolaus started coverage on Diamondback Energy in a report on Wednesday, April 12th. They set a “buy” rating and a $123.00 price objective on the stock. Finally, Barclays PLC reiterated an “equal weight” rating and set a $110.00 price objective (down previously from $123.00) on shares of Diamondback Energy in a report on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $116.16.

Diamondback Energy (NASDAQ FANG) opened at 90.41 on Wednesday. The firm has a market cap of $8.87 billion, a P/E ratio of 1923.62 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 stock has a 50 day moving average price of $88.99 and a 200-day moving average price of $99.20.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $218.62 million. Analysts predict that Diamondback Energy will post $4.36 EPS for the current fiscal year.

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In other news, Director Mark Lawrence Plaumann sold 1,000 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was 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 firm’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average cost of $103.45 per share, with a total value of $248,280.00. Following the purchase, the director now owns 2,400 shares of the company’s stock, valued at approximately $248,280. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in FANG. Comerica Bank boosted its stake in 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 in the last quarter. New York State Teachers Retirement System boosted its stake in 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 in the last quarter. Quadrature Capital Ltd boosted its stake in 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 in the last quarter. UBS Asset Management Americas Inc. boosted its stake in 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 in the last quarter. Finally, Teachers Advisors LLC boosted its stake in Diamondback Energy by 16.3% in the fourth quarter. Teachers Advisors LLC now owns 786,197 shares of the oil and natural gas company’s stock valued at $79,453,000 after buying an additional 110,322 shares in the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

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.

The Fly

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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