Shares of Diamondback Energy Inc. (NASDAQ:FANG) have been given an average recommendation of “Buy” by the thirty-three research firms that are currently covering the stock. Six research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $100.41.
Several research firms recently weighed in on FANG. Simmons reissued an “overweight” rating and set a $109.00 price target (up from $106.00) on shares of Diamondback Energy in a report on Saturday, August 13th. Piper Jaffray Cos. began coverage on Diamondback Energy in a report on Monday, July 11th. They set an “overweight” rating and a $101.00 price target for the company. Zacks Investment Research cut Diamondback Energy from a “buy” rating to a “hold” rating in a report on Friday, September 30th. Roth Capital reissued a “hold” rating on shares of Diamondback Energy in a report on Tuesday, July 12th. Finally, Raymond James Financial Inc. reissued an “outperform” rating and set a $117.00 price target (up from $104.00) on shares of Diamondback Energy in a report on Thursday.
In other news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $98.00, for a total value of $2,940,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Teresa L. Dick sold 1,000 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $95.71, for a total value of $95,710.00. Following the completion of the transaction, the chief financial officer now directly owns 25,750 shares in the company, valued at $2,464,532.50. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock worth $773,449,000 after buying an additional 665,001 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Diamondback Energy by 0.4% in the first quarter. Wellington Management Group LLP now owns 7,512,803 shares of the company’s stock worth $579,839,000 after buying an additional 26,247 shares during the last quarter. Boston Partners raised its stake in shares of Diamondback Energy by 4.4% in the second quarter. Boston Partners now owns 7,138,560 shares of the company’s stock worth $651,109,000 after buying an additional 303,405 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Diamondback Energy by 2.1% in the second quarter. Vanguard Group Inc. now owns 5,151,072 shares of the company’s stock worth $469,829,000 after buying an additional 106,359 shares during the last quarter. Finally, Winslow Capital Management LLC purchased a new stake in shares of Diamondback Energy during the second quarter worth approximately $255,580,000. 99.74% of the stock is currently owned by institutional investors.
Diamondback Energy (NASDAQ:FANG) opened at 100.90 on Friday. The firm has a 50-day moving average price of $94.88 and a 200-day moving average price of $89.69. Diamondback Energy has a 1-year low of $55.48 and a 1-year high of $106.84. The firm’s market cap is $7.87 billion.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.10. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The company earned $112.48 million during the quarter, compared to analysts’ expectations of $112.47 million. During the same period last year, the firm posted $0.41 earnings per share. The business’s revenue was down 5.5% on a year-over-year basis. On average, analysts expect that Diamondback Energy will post $1.00 earnings per share for the current fiscal year.
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.