Diamondback Energy, Inc. (FANG) Downgraded by BidaskClub to Sell
Diamondback Energy, Inc. (NASDAQ:FANG) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
FANG has been the subject of several other reports. Barclays PLC reiterated an “equal weight” rating and set a $110.00 target price (down from $123.00) on shares of Diamondback Energy in a research note on Saturday, April 22nd. Roth Capital set a $130.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Zacks Investment Research cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. BMO Capital Markets set a $120.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $151.00 target price on shares of Diamondback Energy in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Diamondback Energy has an average rating of “Buy” and an average target price of $117.00.
Shares of Diamondback Energy (NASDAQ:FANG) traded up 1.35% during trading on Friday, hitting $87.26. 1,345,657 shares of the stock were exchanged. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $114.00. The stock’s 50 day moving average is $91.57 and its 200-day moving average is $97.64. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 23.99 and a beta of 1.06.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.44. The business had revenue of $267.40 million during the quarter, compared to the consensus estimate of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. Diamondback Energy’s quarterly revenue was up 137.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. Equities research analysts anticipate that Diamondback Energy will post $4.89 EPS for the current year.
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In other news, insider Michael L. Hollis sold 1,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of FANG. 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. Johnson Financial Group Inc. purchased a new stake in Diamondback Energy during the second quarter valued at $102,000. Winch Advisory Services LLC purchased a new stake in Diamondback Energy during the first quarter valued at $105,000. State of Alaska Department of Revenue purchased a new stake in Diamondback Energy during the first quarter valued at $180,000. Finally, Cubist Systematic Strategies LLC raised its stake in Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after buying an additional 700 shares during the last quarter. 96.31% of the stock is currently 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.
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