Diamondback Energy, Inc. (FANG) Price Target Increased to $126.00 by Analysts at Morgan Stanley

Diamondback Energy, Inc. (NASDAQ:FANG) had its price objective boosted by Morgan Stanley from $118.00 to $126.00 in a research note released on Wednesday morning. Morgan Stanley currently has an overweight rating on the oil and natural gas company’s stock.

FANG has been the topic of several other reports. Zacks Investment Research downgraded shares of Diamondback Energy from a hold rating to a sell rating in a report on Tuesday, July 11th. BidaskClub raised shares of Diamondback Energy from a strong sell rating to a sell rating in a report on Wednesday, July 5th. Barclays PLC upped their price objective on shares of Diamondback Energy from $105.00 to $121.00 and gave the company an equal weight rating in a report on Wednesday, October 11th. Northland Securities reaffirmed a buy rating and issued a $125.00 price objective on shares of Diamondback Energy in a report on Tuesday, September 26th. Finally, Jefferies Group LLC assumed coverage on shares of Diamondback Energy in a report on Monday, October 9th. They issued a buy rating and a $124.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $122.13.

Diamondback Energy (FANG) traded down 0.59% on Wednesday, reaching $101.59. 816,026 shares of the company’s stock traded hands. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $114.00. The stock has a 50 day moving average price of $96.42 and a 200 day moving average price of $95.13. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of 27.93 and a beta of 1.08.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, beating the consensus estimate of $0.96 by $0.44. The business had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The business’s revenue for the quarter was up 137.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. Analysts forecast that Diamondback Energy will post $5.00 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/19/diamondback-energy-inc-fang-price-target-increased-to-126-00-by-analysts-at-morgan-stanley.html.

In other news, VP Hof Matthew Kaes Van’t sold 650 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total value of $57,518.50. Following the completion of the sale, the vice president now directly owns 4,950 shares in the company, valued at $438,025.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael L. Hollis sold 2,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $102.44, for a total transaction of $204,880.00. The disclosure for this sale can be found here. Insiders sold 12,805 shares of company stock valued at $1,239,381 over the last quarter. Company insiders own 0.41% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Artisan Partners Limited Partnership raised its position in shares of Diamondback Energy by 964.6% in the second quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock valued at $164,114,000 after buying an additional 1,674,336 shares during the last quarter. Harbour Capital Advisors LLC raised its position in shares of Diamondback Energy by 8,536.0% in the second quarter. Harbour Capital Advisors LLC now owns 767,052 shares of the oil and natural gas company’s stock valued at $8,637,000 after buying an additional 758,170 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Diamondback Energy by 97.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 14,739 shares of the oil and natural gas company’s stock valued at $1,529,000 after buying an additional 7,269 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Diamondback Energy by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 831,952 shares of the oil and natural gas company’s stock valued at $73,887,000 after buying an additional 62,224 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Diamondback Energy by 17.5% in the second quarter. Legal & General Group Plc

FANG has been the topic of several other reports. Zacks Investment Research downgraded shares of Diamondback Energy from a hold rating to a sell rating in a report on Tuesday, July 11th. BidaskClub raised shares of Diamondback Energy from a strong sell rating to a sell rating in a report on Wednesday, July 5th. Barclays PLC upped their price objective on shares of Diamondback Energy from $105.00 to $121.00 and gave the company an equal weight rating in a report on Wednesday, October 11th. Northland Securities reaffirmed a buy rating and issued a $125.00 price objective on shares of Diamondback Energy in a report on Tuesday, September 26th. Finally, Jefferies Group LLC assumed coverage on shares of Diamondback Energy in a report on Monday, October 9th. They issued a buy rating and a $124.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $122.13.

Diamondback Energy (FANG) traded down 0.59% on Wednesday, reaching $101.59. 816,026 shares of the company’s stock traded hands. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $114.00. The stock has a 50 day moving average price of $96.42 and a 200 day moving average price of $95.13. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of 27.93 and a beta of 1.08.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, beating the consensus estimate of $0.96 by $0.44. The business had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The business’s revenue for the quarter was up 137.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. Analysts forecast that Diamondback Energy will post $5.00 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/19/diamondback-energy-inc-fang-price-target-increased-to-126-00-by-analysts-at-morgan-stanley.html.

In other news, VP Hof Matthew Kaes Van’t sold 650 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total value of $57,518.50. Following the completion of the sale, the vice president now directly owns 4,950 shares in the company, valued at $438,025.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael L. Hollis sold 2,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $102.44, for a total transaction of $204,880.00. The disclosure for this sale can be found here. Insiders sold 12,805 shares of company stock valued at $1,239,381 over the last quarter. Company insiders own 0.41% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Artisan Partners Limited Partnership raised its position in shares of Diamondback Energy by 964.6% in the second quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock valued at $164,114,000 after buying an additional 1,674,336 shares during the last quarter. Harbour Capital Advisors LLC raised its position in shares of Diamondback Energy by 8,536.0% in the second quarter. Harbour Capital Advisors LLC now owns 767,052 shares of the oil and natural gas company’s stock valued at $8,637,000 after buying an additional 758,170 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Diamondback Energy by 97.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 14,739 shares of the oil and natural gas company’s stock valued at $1,529,000 after buying an additional 7,269 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Diamondback Energy by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 831,952 shares of the oil and natural gas company’s stock valued at $73,887,000 after buying an additional 62,224 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Diamondback Energy by 17.5% in the second quarter. Legal & General Group Plc now owns 104,274 shares of the oil and natural gas company’s stock valued at $9,260,000 after buying an additional 15,527 shares during the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.

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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