Diamondback Energy (NASDAQ:FANG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Diamondback Energy, Inc. is an oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. The Company’s activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations. Diamondback Energy, Inc. is headquartered in Midland, Texas. “

Several other analysts also recently commented on the stock. KeyCorp reiterated an “overweight” rating and issued a $125.00 target price (up previously from $117.00) on shares of Diamondback Energy in a report on Tuesday, November 7th. BidaskClub upgraded shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Barclays restated a “buy” rating and set a $138.00 price target on shares of Diamondback Energy in a research report on Sunday, December 24th. US Capital Advisors restated a “buy” rating on shares of Diamondback Energy in a research report on Monday, October 2nd. Finally, Credit Suisse Group initiated coverage on shares of Diamondback Energy in a research report on Monday, December 11th. They set an “outperform” rating and a $123.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $127.96.

Shares of Diamondback Energy (NASDAQ:FANG) traded down $0.21 during mid-day trading on Thursday, hitting $127.23. 1,027,719 shares of the stock traded hands, compared to its average volume of 1,170,000. The stock has a market capitalization of $12,490.00, a P/E ratio of 30.81, a P/E/G ratio of 0.73 and a beta of 1.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.45 and a current ratio of 0.46. Diamondback Energy has a 52 week low of $82.77 and a 52 week high of $132.07.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.31. The company had revenue of $301.30 million during the quarter, compared to the consensus estimate of $296.53 million. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The firm’s revenue for the quarter was up 112.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) earnings per share. equities research analysts predict that Diamondback Energy will post 5.08 earnings per share for the current year.

In other news, insider Michael L. Hollis sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total value of $388,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Russell Pantermuehl sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $109.55, for a total transaction of $438,200.00. Following the completion of the transaction, the vice president now owns 64,214 shares of the company’s stock, valued at $7,034,643.70. The disclosure for this sale can be found here. Insiders sold 79,400 shares of company stock valued at $9,544,350 over the last 90 days. 0.41% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its position in shares of Diamondback Energy by 7.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 323,946 shares of the oil and natural gas company’s stock valued at $40,899,000 after acquiring an additional 21,908 shares during the period. HWG Holdings LP bought a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $1,112,000. Bank of Montreal Can boosted its position in shares of Diamondback Energy by 17.2% in the fourth quarter. Bank of Montreal Can now owns 89,719 shares of the oil and natural gas company’s stock valued at $11,327,000 after acquiring an additional 13,167 shares during the period. KCS Wealth Advisory bought a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $202,000. Finally, Sheets Smith Wealth Management bought a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $358,000.

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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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