Diamondback Energy, Inc. (FANG) Price Target Raised to $105.00 at Barclays PLC
Diamondback Energy, Inc. (NASDAQ:FANG) had its target price boosted by research analysts at Barclays PLC from $93.00 to $105.00 in a research report issued to clients and investors on Tuesday. The firm currently has an “equal weight” rating on the oil and natural gas company’s stock. Barclays PLC’s price objective would indicate a potential upside of 10.55% from the stock’s current price.
Several other brokerages have also recently commented on FANG. BidaskClub upgraded Diamondback Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Roth Capital boosted their price target on Diamondback Energy from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. BMO Capital Markets set a $100.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, August 1st. Northland Securities set a $125.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Monday, July 17th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $151.00 target price on shares of Diamondback Energy in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $115.77.
Diamondback Energy (NASDAQ:FANG) traded down 1.10% during trading on Tuesday, reaching $94.98. 1,905,129 shares of the company’s stock traded hands. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 2020.85 and a beta of 1.06. Diamondback Energy has a one year low of $82.77 and a one year high of $114.00. The company has a 50 day moving average of $89.98 and a 200 day moving average of $98.63.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The firm had revenue of $267.40 million during the quarter, compared to analysts’ expectations of $258.75 million. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s revenue for the quarter was up 137.7% on a year-over-year basis. Equities research analysts predict that Diamondback Energy will post $4.52 EPS for the current year.
In related news, Director Steven E. West purchased 2,400 shares of Diamondback Energy stock in a transaction on Wednesday, May 17th. The shares were bought at an average price of $103.45 per share, with a total value of $248,280.00. Following the transaction, the director now directly owns 2,400 shares of the company’s stock, valued at $248,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael L. Hollis sold 1,000 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Diamondback Energy by 5,554.4% in the first quarter. BlackRock Inc. now owns 4,707,194 shares of the oil and natural gas company’s stock worth $488,205,000 after buying an additional 4,623,946 shares in the last quarter. Warburg Pincus LLC bought a new stake in Diamondback Energy during the first quarter worth about $291,598,000. FMR LLC raised its stake in Diamondback Energy by 17.0% in the first quarter. FMR LLC now owns 11,423,256 shares of the oil and natural gas company’s stock worth $1,184,763,000 after buying an additional 1,661,551 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in Diamondback Energy by 8,536.0% in the second quarter. Harbour Capital Advisors LLC now owns 767,052 shares of the oil and natural gas company’s stock worth $8,637,000 after buying an additional 758,170 shares in the last quarter. Finally, Steadfast Capital Management LP bought a new stake in Diamondback Energy during the first quarter worth about $62,678,000. 97.20% of the stock is currently 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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