Diamondback Energy (NASDAQ:FANG – Get Free Report) had its target price hoisted by stock analysts at Wells Fargo & Company from $224.00 to $231.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 12.43% from the company’s previous close.
A number of other equities research analysts have also commented on the company. Sanford C. Bernstein decreased their price objective on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday. Morgan Stanley reduced their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Bank of America reiterated a “neutral” rating and set a $201.00 price target on shares of Diamondback Energy in a report on Friday, June 14th. Evercore ISI lifted their price target on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Finally, Royal Bank of Canada lifted their price target on Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $208.95.
Read Our Latest Stock Report on Diamondback Energy
Diamondback Energy Trading Down 2.2 %
NASDAQ:FANG opened at $205.47 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. Diamondback Energy has a 1-year low of $139.45 and a 1-year high of $214.50. The firm has a market capitalization of $36.64 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.16 and a beta of 1.90. The stock has a fifty day simple moving average of $197.68 and a 200 day simple moving average of $186.60.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the company posted $4.10 EPS. Diamondback Energy’s revenue for the quarter was up 15.7% on a year-over-year basis. Sell-side analysts forecast that Diamondback Energy will post 18.74 earnings per share for the current year.
Insider Activity at Diamondback Energy
In related news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the sale, the chief operating officer now owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the transaction, the vice president now owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the completion of the transaction, the chief operating officer now directly owns 69,677 shares in the company, valued at approximately $13,736,123.78. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
Hedge Funds Weigh In On Diamondback Energy
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quent Capital LLC boosted its stake in Diamondback Energy by 7.2% in the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after purchasing an additional 54 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its stake in Diamondback Energy by 0.3% in the second quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after purchasing an additional 56 shares in the last quarter. Versant Capital Management Inc boosted its stake in Diamondback Energy by 16.1% in the second quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock worth $82,000 after purchasing an additional 57 shares in the last quarter. Confluence Investment Management LLC raised its position in shares of Diamondback Energy by 1.6% during the second quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock worth $734,000 after acquiring an additional 58 shares during the last quarter. Finally, Sage Mountain Advisors LLC raised its position in shares of Diamondback Energy by 4.5% during the first quarter. Sage Mountain Advisors LLC now owns 1,420 shares of the oil and natural gas company’s stock worth $281,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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