Diamondback Energy (NASDAQ:FANG) has been assigned a $137.00 price objective by Williams Capital in a research report issued on Wednesday. The firm presently has a “hold” rating on the oil and natural gas company’s stock. Williams Capital’s target price points to a potential upside of 11.54% from the stock’s previous close.
Several other equities research analysts also recently issued reports on FANG. Wells Fargo & Co set a $120.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $118.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. KeyCorp reiterated an “overweight” rating and set a $125.00 price objective (up from $117.00) on shares of Diamondback Energy in a research note on Tuesday, November 7th. Imperial Capital boosted their price objective on shares of Diamondback Energy from $113.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Finally, Zacks Investment Research downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Five investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $136.70.
Shares of Diamondback Energy (FANG) traded up $7.80 during mid-day trading on Wednesday, reaching $122.83. 2,894,513 shares of the company traded hands, compared to its average volume of 1,340,000. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $134.52. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $12,050.00, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 0.60 and a beta of 0.91.
In other Diamondback Energy news, VP Russell Pantermuehl sold 1,400 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $111.10, for a total transaction of $155,540.00. Following the transaction, the vice president now directly owns 60,814 shares in the company, valued at approximately $6,756,435.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Teresa L. Dick sold 1,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $112.13, for a total transaction of $112,130.00. Following the transaction, the chief financial officer now owns 30,760 shares in the company, valued at $3,449,118.80. The disclosure for this sale can be found here. Insiders sold 68,400 shares of company stock valued at $8,337,200 over the last 90 days. Insiders own 0.41% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Viking Fund Management LLC boosted its stake in Diamondback Energy by 6.3% during the 3rd quarter. Viking Fund Management LLC now owns 220,000 shares of the oil and natural gas company’s stock valued at $21,551,000 after acquiring an additional 13,000 shares during the last quarter. IBM Retirement Fund bought a new position in Diamondback Energy during the 3rd quarter valued at $960,000. Sterling Capital Management LLC boosted its stake in Diamondback Energy by 21.0% during the 3rd quarter. Sterling Capital Management LLC now owns 37,872 shares of the oil and natural gas company’s stock valued at $3,710,000 after acquiring an additional 6,575 shares during the last quarter. Gluskin Sheff & Assoc Inc. boosted its stake in Diamondback Energy by 221.5% during the 3rd quarter. Gluskin Sheff & Assoc Inc. now owns 13,150 shares of the oil and natural gas company’s stock valued at $1,288,000 after acquiring an additional 9,060 shares during the last quarter. Finally, Strategic Global Advisors LLC bought a new position in Diamondback Energy during the 3rd quarter valued at $573,000.
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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.
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