Diamondback Energy (FANG) Given New $145.00 Price Target at Roth Capital

Diamondback Energy (NASDAQ:FANG) had its price objective increased by stock analysts at Roth Capital from $120.00 to $145.00 in a report released on Monday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Roth Capital’s target price points to a potential upside of 13.66% from the stock’s previous close.

FANG has been the subject of a number of other research reports. BidaskClub raised shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Barclays upped their price objective on shares of Diamondback Energy from $105.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 11th. Zacks Investment Research cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Jefferies Group started coverage on shares of Diamondback Energy in a research note on Monday, October 9th. They issued a “buy” rating and a $124.00 price objective for the company. Finally, Citigroup assumed coverage on shares of Diamondback Energy in a research note on Friday, December 1st. They issued a “buy” rating and a $130.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Diamondback Energy presently has a consensus rating of “Buy” and an average price target of $128.58.

Shares of Diamondback Energy (NASDAQ:FANG) traded up $0.34 during trading on Monday, hitting $127.57. 585,300 shares of the stock were exchanged, compared to its average volume of 1,215,023. Diamondback Energy has a 12 month low of $82.77 and a 12 month high of $132.07. The stock has a market cap of $12,780.00, a PE ratio of 30.89, a price-to-earnings-growth ratio of 0.74 and a beta of 1.08. 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 (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The company had revenue of $301.30 million during the quarter, compared to analysts’ expectations of $296.53 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The firm’s revenue was up 112.0% on a year-over-year basis. analysts predict that Diamondback Energy will post 5.09 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 dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael L. Hollis sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,400 shares of company stock valued at $9,544,350. Corporate insiders own 0.41% of the company’s stock.

Several institutional investors have recently modified their holdings of FANG. Warburg Pincus LLC increased its stake in shares of Diamondback Energy by 132.4% in the 2nd quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock worth $580,188,000 after acquiring an additional 3,721,519 shares in the last quarter. Capital World Investors increased its stake in shares of Diamondback Energy by 98.1% in the 2nd quarter. Capital World Investors now owns 2,516,497 shares of the oil and natural gas company’s stock worth $223,490,000 after acquiring an additional 1,246,072 shares in the last quarter. Boston Partners increased its stake in shares of Diamondback Energy by 18.1% in the 3rd quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock worth $771,379,000 after acquiring an additional 1,208,864 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Diamondback Energy by 159.6% in the 2nd quarter. Voya Investment Management LLC now owns 1,320,826 shares of the oil and natural gas company’s stock worth $117,302,000 after acquiring an additional 811,950 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Diamondback Energy by 8.9% in the 2nd quarter. Vanguard Group Inc. now owns 7,988,153 shares of the oil and natural gas company’s stock worth $709,428,000 after acquiring an additional 651,353 shares in 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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