Diamondback Energy (FANG) Now Covered by Analysts at Citigroup

Equities research analysts at Citigroup began coverage on shares of Diamondback Energy (NASDAQ:FANG) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage set a “buy” rating and a $130.00 price target on the oil and natural gas company’s stock. Citigroup’s target price indicates a potential upside of 17.21% from the stock’s current price.

FANG has been the topic of a number of other research reports. Barclays lifted their price target on Diamondback Energy from $105.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, October 11th. Zacks Investment Research downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Jefferies Group initiated coverage on Diamondback Energy in a report on Monday, October 9th. They set a “buy” rating and a $124.00 price target on the stock. Northland Securities reiterated a “buy” rating and set a $125.00 price target on shares of Diamondback Energy in a report on Tuesday, September 26th. Finally, KeyCorp reiterated a “buy” rating and set a $113.00 price target on shares of Diamondback Energy in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $126.88.

Shares of Diamondback Energy (NASDAQ:FANG) traded up $1.60 during trading on Friday, hitting $110.91. The stock had a trading volume of 995,478 shares, compared to its average volume of 1,352,457. The firm has a market capitalization of $10,880.00, a price-to-earnings ratio of 23.18, a PEG ratio of 0.78 and a beta of 1.10. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22. Diamondback Energy has a 12 month low of $82.77 and a 12 month high of $114.93.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.31. Diamondback Energy had a return on equity of 6.03% and a net margin of 27.20%. The business had revenue of $301.30 million for the quarter, compared to the consensus estimate of $296.53 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. Diamondback Energy’s revenue for the quarter was up 112.0% compared to the same quarter last year. equities analysts anticipate that Diamondback Energy will post 5.02 earnings per share for the current fiscal year.

In other Diamondback Energy news, VP Paul Molnar sold 5,000 shares of the business’s 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 transaction, the vice president now owns 42,563 shares in the company, valued at $4,045,187.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Russell Pantermuehl sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $109.55, for a total value of $438,200.00. Following the completion of the transaction, the vice president now owns 64,214 shares in the company, valued at approximately $7,034,643.70. The disclosure for this sale can be found here. Insiders sold 23,155 shares of company stock worth $2,389,013 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its position in shares of Diamondback Energy by 1.6% in the second quarter. FMR LLC now owns 11,609,146 shares of the oil and natural gas company’s stock worth $1,031,009,000 after buying an additional 185,890 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Diamondback Energy by 8.9% in the second quarter. Vanguard Group Inc. now owns 7,988,153 shares of the oil and natural gas company’s stock worth $709,428,000 after buying an additional 651,353 shares during the last quarter. Boston Partners lifted its position in shares of Diamondback Energy by 18.1% in the third quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock worth $771,379,000 after buying an additional 1,208,864 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Diamondback Energy by 20.1% in the second quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock worth $677,951,000 after buying an additional 1,278,802 shares during the last quarter. Finally, Warburg Pincus LLC lifted its position in shares of Diamondback Energy by 132.4% in the second quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock worth $580,188,000 after buying an additional 3,721,519 shares during the last quarter.

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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.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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