Diamondback Energy (NASDAQ:FANG) had its target price increased by equities researchers at Morgan Stanley from $138.00 to $167.00 in a research note issued on Wednesday. The brokerage presently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s target price would suggest a potential upside of 28.37% from the stock’s current price.
A number of other research analysts have also issued reports on the company. US Capital Advisors reiterated a “buy” rating on shares of Diamondback Energy in a research report on Monday, October 2nd. Northland Securities reiterated a “buy” rating and set a $125.00 target price on shares of Diamondback Energy in a research report on Tuesday, September 26th. BMO Capital Markets set a $110.00 target price on Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, October 10th. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research report on Monday, October 9th. Finally, Jefferies Group assumed coverage on Diamondback Energy in a research report on Monday, October 9th. They set a “buy” rating and a $124.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $131.63.
Diamondback Energy (FANG) traded up $3.24 during trading on Wednesday, reaching $130.09. The company’s stock had a trading volume of 650,267 shares, compared to its average volume of 1,230,000. 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 has a 1-year low of $82.77 and a 1-year high of $134.52. The stock has a market cap of $13,090.00, a price-to-earnings ratio of 31.50, a PEG ratio of 0.69 and a beta of 1.08.
In other Diamondback Energy news, VP Russell Pantermuehl sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $109.55, for a total value of $438,200.00. Following the completion of the sale, the vice president now directly owns 64,214 shares of the company’s stock, valued at approximately $7,034,643.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Travis D. Stice sold 35,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $125.00, for a total value of $4,375,000.00. The disclosure for this sale can be found here. Insiders sold a total of 77,400 shares of company stock valued at $9,334,350 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Miller Howard Investments Inc. NY increased its position in shares of Diamondback Energy by 1,131.6% during the 4th quarter. Miller Howard Investments Inc. NY now owns 67,023 shares of the oil and natural gas company’s stock worth $8,462,000 after purchasing an additional 61,581 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Diamondback Energy by 8.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 6,295 shares of the oil and natural gas company’s stock worth $795,000 after purchasing an additional 510 shares during the last quarter. First Personal Financial Services increased its position in shares of Diamondback Energy by 114.9% during the 4th quarter. First Personal Financial Services now owns 1,919 shares of the oil and natural gas company’s stock worth $242,000 after purchasing an additional 1,026 shares during the last quarter. Peregrine Capital Management LLC increased its position in shares of Diamondback Energy by 10.2% during the 4th quarter. Peregrine Capital Management LLC now owns 172,290 shares of the oil and natural gas company’s stock worth $21,752,000 after purchasing an additional 15,992 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Diamondback Energy by 42.6% during the 4th quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock worth $164,000 after purchasing an additional 389 shares during the last quarter.
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.
