Diamondback Energy (NASDAQ:FANG) PT Lowered to $124.00

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Diamondback Energy (NASDAQ:FANG) had its target price cut by Wells Fargo & Co from $134.00 to $124.00 in a report issued on Friday, BenzingaRatingsTable reports. They currently have an overweight rating on the oil and natural gas company’s stock.

FANG has been the subject of a number of other reports. Raymond James reduced their target price on shares of Diamondback Energy from $120.00 to $110.00 and set a strong-buy rating for the company in a research report on Thursday, November 7th. Susquehanna Bancshares reduced their target price on shares of Diamondback Energy from $125.00 to $130.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. reduced their target price on shares of Diamondback Energy from $152.00 to $139.00 and set an overweight rating for the company in a research report on Wednesday, October 9th. They noted that the move was a valuation call. KeyCorp reduced their target price on shares of Diamondback Energy from $133.00 to $125.00 and set an overweight rating for the company in a research report on Tuesday, October 15th. Finally, TD Securities reduced their target price on shares of Diamondback Energy from $150.00 to $140.00 and set a buy rating for the company in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy has an average rating of Buy and a consensus price target of $131.32.

Shares of FANG opened at $79.37 on Friday. Diamondback Energy has a 52-week low of $73.18 and a 52-week high of $114.14. The company has a quick ratio of 0.68, a current ratio of 0.72 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average is $89.11 and its two-hundred day moving average is $90.42. The stock has a market cap of $13.29 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 0.71 and a beta of 0.85.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 EPS for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.24). The business had revenue of $975.00 million during the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a net margin of 29.59% and a return on equity of 6.01%. Diamondback Energy’s quarterly revenue was up 81.6% on a year-over-year basis. During the same quarter last year, the company earned $1.67 earnings per share. As a group, research analysts anticipate that Diamondback Energy will post 6.38 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CNB Bank acquired a new stake in Diamondback Energy during the fourth quarter worth $30,000. FNY Investment Advisers LLC raised its position in Diamondback Energy by 4,118.2% in the third quarter. FNY Investment Advisers LLC now owns 464 shares of the oil and natural gas company’s stock valued at $41,000 after purchasing an additional 453 shares during the period. Evoke Wealth LLC purchased a new stake in Diamondback Energy in the third quarter valued at $45,000. Baystate Wealth Management LLC raised its position in Diamondback Energy by 10,766.7% in the fourth quarter. Baystate Wealth Management LLC now owns 652 shares of the oil and natural gas company’s stock valued at $61,000 after purchasing an additional 646 shares during the period. Finally, Huntington National Bank raised its position in Diamondback Energy by 1,243.1% in the fourth quarter. Huntington National Bank now owns 685 shares of the oil and natural gas company’s stock valued at $64,000 after purchasing an additional 634 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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