Northland Securities Reiterates “Buy” Rating for Diamondback Energy, Inc. (FANG)
Diamondback Energy, Inc. (NASDAQ:FANG)‘s stock had its “buy” rating reissued by stock analysts at Northland Securities in a research report issued to clients and investors on Tuesday. They currently have a $125.00 price target on the oil and natural gas company’s stock. Northland Securities’ price objective would indicate a potential upside of 29.17% from the stock’s previous close.
Other analysts have also recently issued reports about the company. Scotiabank set a $95.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Saturday, July 1st. BidaskClub cut Diamondback Energy from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Bank of America Corporation assumed coverage on Diamondback Energy in a report on Wednesday, July 19th. They issued a “buy” rating and a $115.00 target price for the company. Mizuho restated a “buy” rating and issued a $114.00 target price (up from $109.00) on shares of Diamondback Energy in a report on Thursday, August 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $112.00 target price on shares of Diamondback Energy in a report on Thursday, September 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $115.87.
Diamondback Energy (NASDAQ FANG) opened at 96.78 on Tuesday. The firm’s 50-day moving average is $91.17 and its 200 day moving average is $95.46. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 26.61 and a beta of 1.08. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $114.00.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm’s quarterly revenue was up 137.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 EPS. Equities analysts anticipate that Diamondback Energy will post $4.93 EPS for the current fiscal year.
In other Diamondback Energy news, VP Paul Molnar sold 5,000 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the sale, the vice president now owns 42,563 shares of the company’s stock, valued at approximately $4,045,187.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Russell Pantermuehl sold 4,000 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $96.89, for a total value of $387,560.00. Following the completion of the sale, the vice president now directly owns 70,214 shares in the company, valued at approximately $6,803,034.46. The disclosure for this sale can be found here. Insiders sold a total of 10,805 shares of company stock worth $1,029,501 in the last ninety days. 0.41% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of FANG. Toronto Dominion Bank raised its position in Diamondback Energy by 26.2% in the 1st quarter. Toronto Dominion Bank now owns 969 shares of the oil and natural gas company’s stock valued at $100,000 after purchasing an additional 201 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Diamondback Energy in the 2nd quarter valued at about $102,000. Creative Planning raised its position in Diamondback Energy by 7.3% in the 3rd quarter. Creative Planning now owns 1,073 shares of the oil and natural gas company’s stock valued at $104,000 after purchasing an additional 73 shares in the last quarter. Winch Advisory Services LLC acquired a new stake in Diamondback Energy in the 1st quarter valued at about $105,000. Finally, BOKF NA raised its position in Diamondback Energy by 12.8% in the 3rd quarter. BOKF NA now owns 1,208 shares of the oil and natural gas company’s stock valued at $116,000 after purchasing an additional 137 shares in the last quarter.
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.
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