Diamondback Energy (FANG) Downgraded by BidaskClub to “Hold”

BidaskClub downgraded shares of Diamondback Energy (NASDAQ:FANG) from a buy rating to a hold rating in a research report released on Tuesday.

Other equities research analysts have also recently issued reports about the company. Northland Securities set a $120.00 price objective on Diamondback Energy and gave the stock a buy rating in a report on Monday, December 11th. Citigroup began coverage on Diamondback Energy in a report on Friday, December 1st. They issued a buy rating and a $130.00 price objective on the stock. Mizuho set a $122.00 target price on Diamondback Energy and gave the stock a buy rating in a report on Saturday, November 25th. Piper Jaffray Companies restated a buy rating and set a $118.00 target price on shares of Diamondback Energy in a report on Friday, November 24th. Finally, Scotiabank restated a buy rating and set a $118.00 target price on shares of Diamondback Energy in a report on Wednesday, November 22nd. Five research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Diamondback Energy has a consensus rating of Buy and an average target price of $140.92.

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Shares of Diamondback Energy (NASDAQ FANG) opened at $127.96 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.62 and a debt-to-equity ratio of 0.26. Diamondback Energy has a twelve month low of $82.77 and a twelve month high of $134.52. The stock has a market capitalization of $12,779.42, a PE ratio of 25.75, a P/E/G ratio of 0.73 and a beta of 0.91.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.16. Diamondback Energy had a return on equity of 9.63% and a net margin of 40.02%. The company had revenue of $399.19 million for the quarter, compared to analysts’ expectations of $370.74 million. equities research analysts anticipate that Diamondback Energy will post 6.89 earnings per share for the current year.

In other news, CEO Travis D. Stice sold 35,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $125.00, for a total transaction of $4,375,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael L. Hollis sold 3,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total transaction of $388,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 171,431 shares of company stock worth $21,476,852. Corporate insiders own 0.41% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors purchased a new stake in Diamondback Energy in the fourth quarter valued at approximately $149,000. IFP Advisors Inc raised its position in Diamondback Energy by 42.6% in the fourth quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock valued at $164,000 after purchasing an additional 389 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in Diamondback Energy by 476.3% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,412 shares of the oil and natural gas company’s stock valued at $178,000 after purchasing an additional 1,167 shares during the period. KCS Wealth Advisory purchased a new stake in Diamondback Energy in the fourth quarter valued at approximately $202,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Diamondback Energy in the third quarter valued at approximately $206,000.

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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.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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