Diamondback Energy (FANG) Given a $140.00 Price Target by Northland Securities Analysts

Diamondback Energy (NASDAQ:FANG) has been assigned a $140.00 price target by investment analysts at Northland Securities in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Northland Securities’ price objective suggests a potential upside of 21.71% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Mizuho set a $122.00 target price on Diamondback Energy and gave the company a “buy” rating in a research note on Saturday, November 25th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $118.00 target price on shares of Diamondback Energy in a research note on Friday, November 24th. Scotiabank reaffirmed a “buy” rating and set a $118.00 target price on shares of Diamondback Energy in a research note on Wednesday, November 22nd. Goldman Sachs Group cut Diamondback Energy from a “conviction-buy” rating to a “buy” rating and lifted their target price for the company from $106.53 to $118.00 in a research note on Friday, November 17th. Finally, BMO Capital Markets set a $130.00 target price on Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, November 14th. Five equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Diamondback Energy has an average rating of “Buy” and an average target price of $136.70.

Diamondback Energy (NASDAQ:FANG) traded down $0.98 during trading hours on Wednesday, reaching $115.03. The company’s stock had a trading volume of 1,649,000 shares, compared to its average volume of 1,305,750. 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 52 week low of $82.77 and a 52 week high of $134.52. The stock has a market cap of $11,290.00, a PE ratio of 23.10, a PEG ratio of 0.60 and a beta of 0.91.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.16. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The company had revenue of $399.19 million for the quarter, compared to analysts’ expectations of $370.74 million. sell-side analysts forecast that Diamondback Energy will post 5.07 EPS for the current year.

In related news, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $111.45, for a total value of $222,900.00. Following the completion of the sale, the vice president now directly owns 63,314 shares in the company, valued at approximately $7,056,345.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael L. Hollis sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 68,400 shares of company stock valued at $8,337,200. 0.41% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Viking Fund Management LLC lifted its holdings in Diamondback Energy by 6.3% in the 3rd quarter. Viking Fund Management LLC now owns 220,000 shares of the oil and natural gas company’s stock worth $21,551,000 after purchasing an additional 13,000 shares during the last quarter. IBM Retirement Fund acquired a new stake in Diamondback Energy in the 3rd quarter worth approximately $960,000. Sterling Capital Management LLC lifted its holdings in Diamondback Energy by 21.0% in the 3rd quarter. Sterling Capital Management LLC now owns 37,872 shares of the oil and natural gas company’s stock worth $3,710,000 after purchasing an additional 6,575 shares during the last quarter. Gluskin Sheff & Assoc Inc. lifted its holdings in Diamondback Energy by 221.5% in the 3rd quarter. Gluskin Sheff & Assoc Inc. now owns 13,150 shares of the oil and natural gas company’s stock worth $1,288,000 after purchasing an additional 9,060 shares during the last quarter. Finally, Strategic Global Advisors LLC acquired a new stake in Diamondback Energy in the 3rd quarter worth approximately $573,000.

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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.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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