Diamondback Energy, Inc. (NASDAQ:FANG) Given a $110.00 Price Target at BMO Capital Markets
Diamondback Energy, Inc. (NASDAQ:FANG) received a $110.00 price objective from research analysts at BMO Capital Markets in a research report issued to clients and investors on Saturday. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 18.45% from the company’s previous close.
Several other research firms have also recently commented on FANG. BidaskClub raised Diamondback Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Roth Capital raised their target price on Diamondback Energy from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, July 27th. 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. 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. Finally, Barclays PLC restated a “hold” rating and issued a $93.00 target price on shares of Diamondback Energy in a report on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $116.32.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 92.87 on Friday. The stock has a 50 day moving average price of $91.49 and a 200-day moving average price of $98.25. Diamondback Energy has a 52 week low of $82.77 and a 52 week high of $114.00. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 25.53 and a beta of 1.06.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.44. The company had revenue of $267.40 million during the quarter, compared to analysts’ expectations of $258.75 million. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The business’s quarterly revenue was up 137.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. On average, equities research analysts forecast that Diamondback Energy will post $4.88 earnings per share for the current year.
In other news, Director Steven E. West purchased 2,400 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were acquired at an average cost of $103.45 per share, with a total value of $248,280.00. Following the completion of the acquisition, the director now owns 2,400 shares of the company’s stock, valued at $248,280. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael L. Hollis sold 1,000 shares of Diamondback Energy stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank increased 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 acquired a new position in Diamondback Energy during the first quarter worth about $105,000. Johnson Financial Group Inc. acquired a new position in Diamondback Energy during the second quarter worth about $102,000. State of Alaska Department of Revenue acquired a new position in Diamondback Energy during the first quarter worth about $180,000. Finally, Stevens Capital Management LP acquired a new position in Diamondback Energy during the first quarter worth about $201,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.
Diamondback Energy Company Profile
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.
Receive News & Ratings for Diamondback Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.