Diamondback Energy (NASDAQ:FANG)‘s stock had its “buy” rating reissued by analysts at Piper Jaffray in a note issued to investors on Friday. They presently have a $141.00 target price on the oil and natural gas company’s stock. Piper Jaffray’s price target indicates a potential upside of 20.91% from the company’s previous close. Piper Jaffray also issued estimates for Diamondback Energy’s Q1 2018 earnings at $1.52 EPS, Q2 2018 earnings at $1.55 EPS, Q3 2018 earnings at $1.71 EPS, Q4 2018 earnings at $1.84 EPS, FY2018 earnings at $6.62 EPS, Q1 2019 earnings at $2.06 EPS, Q2 2019 earnings at $2.07 EPS, Q3 2019 earnings at $2.15 EPS, Q4 2019 earnings at $2.32 EPS and FY2019 earnings at $8.61 EPS.
A number of other brokerages also recently commented on FANG. ValuEngine upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a report on Tuesday, March 27th. Credit Suisse Group set a $143.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Morgan Stanley upped their target price on Diamondback Energy from $138.00 to $167.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Stifel Nicolaus set a $149.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $146.00 target price for the company in a report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $141.60.
Shares of FANG stock opened at $116.62 on Friday. 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 fifty-two week low of $82.77 and a fifty-two week high of $134.60. The company has a market capitalization of $11,448.24, a price-to-earnings ratio of 22.00, a P/E/G ratio of 0.65 and a beta of 0.83.
In other news, COO Michael L. Hollis sold 29,745 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $125.21, for a total value of $3,724,371.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Travis D. Stice sold 87,150 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $125.20, for a total value of $10,911,180.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,431 shares of company stock worth $17,101,852. 0.41% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. Captrust Financial Advisors purchased a new stake in shares of Diamondback Energy in the fourth quarter worth $149,000. IFP Advisors Inc grew its stake in shares of 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 worth $164,000 after acquiring an additional 389 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of 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 worth $178,000 after acquiring an additional 1,167 shares during the last quarter. KCS Wealth Advisory purchased a new stake in shares of Diamondback Energy in the fourth quarter worth $202,000. Finally, Dearborn Partners LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth $208,000.
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About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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