Diamondback Energy Inc. (NASDAQ:FANG) had its price objective upped by KLR Group from $126.00 to $139.00 in a research note issued to investors on Tuesday morning. The firm currently has a buy rating on the stock.
Several other equities analysts also recently commented on FANG. SunTrust Banks Inc. boosted their target price on shares of Diamondback Energy from $110.00 to $115.00 and gave the stock a buy rating in a report on Thursday, August 4th. Wunderlich boosted their target price on shares of Diamondback Energy from $110.00 to $130.00 and gave the stock a buy rating in a report on Tuesday. JPMorgan Chase & Co. reissued a buy rating on shares of Diamondback Energy in a report on Monday, July 18th. BMO Capital Markets reissued a buy rating and issued a $95.00 target price on shares of Diamondback Energy in a report on Wednesday, August 3rd. Finally, Credit Suisse Group AG reissued a buy rating and issued a $108.00 target price on shares of Diamondback Energy in a report on Friday, August 5th. Six equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $99.86.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 103.53 on Tuesday. The firm has a 50-day moving average of $94.74 and a 200 day moving average of $89.52. Diamondback Energy has a 1-year low of $55.48 and a 1-year high of $106.84. The stock’s market capitalization is $8.08 billion.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. The business earned $112.48 million during the quarter, compared to analyst estimates of $112.47 million. Diamondback Energy had a negative net margin of 124.95% and a positive return on equity of 3.82%. The company’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. Analysts predict that Diamondback Energy will post $1.00 EPS for the current year.
In related news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $98.00, for a total value of $2,940,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $85.34, for a total transaction of $170,680.00. Following the completion of the transaction, the vice president now directly owns 67,914 shares of the company’s stock, valued at $5,795,780.76. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Virginia Retirement System acquired a new position in Diamondback Energy during the first quarter worth about $880,000. Prudential Financial Inc. raised its position in Diamondback Energy by 113.6% in the first quarter. Prudential Financial Inc. now owns 7,328 shares of the company’s stock worth $565,000 after buying an additional 3,898 shares in the last quarter. BlackRock Inc. raised its position in Diamondback Energy by 309.5% in the first quarter. BlackRock Inc. now owns 8,366 shares of the company’s stock worth $646,000 after buying an additional 6,323 shares in the last quarter. BlackRock Group LTD raised its position in Diamondback Energy by 20.5% in the first quarter. BlackRock Group LTD now owns 130,421 shares of the company’s stock worth $10,064,000 after buying an additional 22,155 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in Diamondback Energy by 3.3% in the first quarter. BlackRock Fund Advisors now owns 798,166 shares of the company’s stock worth $61,602,000 after buying an additional 25,366 shares in the last quarter. 99.74% of the stock is owned by hedge funds and other institutional investors.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.
Receive News & Ratings for Diamondback Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.