Diamondback Energy (FANG) Upgraded to “Buy” by ValuEngine

Diamondback Energy (NASDAQ:FANG) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Other analysts have also recently issued research reports about the company. B. Riley assumed coverage on Diamondback Energy in a research report on Monday, February 5th. They set a “neutral” rating and a $150.00 price objective for the company. Morgan Stanley reduced their price objective on Diamondback Energy to $164.00 and set an “overweight” rating for the company in a research report on Wednesday, February 7th. Piper Jaffray set a $142.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Monday, February 26th. Zacks Investment Research raised Diamondback Energy from a “hold” rating to a “buy” rating and set a $146.00 price objective for the company in a research report on Wednesday, January 17th. Finally, BidaskClub cut Diamondback Energy from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $140.92.

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Shares of FANG stock opened at $133.23 on Tuesday. The stock has a market capitalization of $12,561.49, a price-to-earnings ratio of 26.81, a P/E/G ratio of 0.71 and a beta of 0.91. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $134.52. The company has a current ratio of 0.62, a quick ratio of 0.61 and a debt-to-equity ratio of 0.26.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. The firm had revenue of $399.19 million during the quarter, compared to analysts’ expectations of $370.74 million. Diamondback Energy had a return on equity of 9.63% and a net margin of 40.02%. equities analysts forecast that Diamondback Energy will post 6.91 EPS for the current year.

In other news, VP Randall J. Holder sold 7,120 shares of Diamondback Energy stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $124.15, for a total value of $883,948.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Teresa L. Dick sold 2,500 shares of Diamondback Energy stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $130.97, for a total value of $327,425.00. The disclosure for this sale can be found here. Insiders sold 171,431 shares of company stock worth $21,476,852 over the last quarter. 0.41% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake in shares of Diamondback Energy by 21.0% in the third quarter. Sterling Capital Management LLC now owns 37,872 shares of the oil and natural gas company’s stock worth $3,710,000 after purchasing an additional 6,575 shares during the period. Strategic Global Advisors LLC bought a new position in shares of Diamondback Energy in the third quarter worth about $573,000. Janney Montgomery Scott LLC increased its stake in shares of Diamondback Energy by 139.6% in the third quarter. Janney Montgomery Scott LLC now owns 18,546 shares of the oil and natural gas company’s stock worth $1,817,000 after purchasing an additional 10,806 shares during the period. Precocity Capital LP bought a new position in shares of Diamondback Energy in the third quarter worth about $18,123,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Diamondback Energy in the third quarter worth about $529,000.

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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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