Diamondback Energy (NASDAQ:FANG) has been assigned a $137.00 price target by equities researchers at KeyCorp in a research report issued to clients and investors on Sunday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. KeyCorp’s target price suggests a potential upside of 7.39% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on FANG. Roth Capital lifted their price target on shares of Diamondback Energy from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday. Mizuho set a $148.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, January 16th. Northland Securities restated a “buy” rating and set a $125.00 price objective on shares of Diamondback Energy in a report on Tuesday, September 26th. Finally, Wells Fargo & Co set a $120.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, October 17th. Three 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 company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $129.08.
Shares of Diamondback Energy (NASDAQ:FANG) traded up $0.34 during midday trading on Friday, hitting $127.57. 585,300 shares of the stock were exchanged, compared to its average volume of 1,215,023. The company has a market capitalization 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. Diamondback Energy has a 52 week low of $82.77 and a 52 week high of $132.07. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.31. The company had revenue of $301.30 million for the quarter, compared to analysts’ expectations of $296.53 million. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The business’s quarterly revenue was up 112.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) earnings per share. analysts forecast that Diamondback Energy will post 5.09 EPS for the current fiscal year.
In other Diamondback Energy news, VP Russell Pantermuehl sold 4,000 shares of Diamondback Energy stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $109.55, for a total value of $438,200.00. Following the sale, the vice president now directly owns 64,214 shares in the company, valued at approximately $7,034,643.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael L. Hollis sold 2,000 shares of Diamondback Energy stock in a transaction on Friday, October 27th. The shares were 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. Insiders sold a total of 79,400 shares of company stock worth $9,544,350 over the last quarter. Company insiders own 0.41% of the company’s stock.
Hedge funds have recently modified their holdings of the business. KCS Wealth Advisory acquired a new position in shares of Diamondback Energy during the 4th quarter worth about $202,000. Crossmark Global Holdings Inc. acquired a new position in shares of Diamondback Energy during the 3rd quarter worth about $206,000. Commerce Bank acquired a new position in shares of Diamondback Energy during the 3rd quarter worth about $208,000. S&CO Inc. acquired a new position in shares of Diamondback Energy during the 4th quarter worth about $271,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Diamondback Energy by 46.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after purchasing an additional 700 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.