Diamondback Energy (NASDAQ:FANG) has been given a $143.00 price objective by Credit Suisse Group in a report released on Tuesday. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 8.16% from the stock’s previous close.
FANG has been the subject of several other research reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Diamondback Energy in a report on Friday, November 24th. SunTrust Banks reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Diamondback Energy in a report on Friday, November 10th. Stifel Nicolaus set a $129.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. BidaskClub raised shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Finally, Goldman Sachs Group downgraded shares of Diamondback Energy from a “conviction-buy” rating to a “buy” rating and upped their price objective for the stock from $106.53 to $118.00 in a report on Friday, November 17th. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Diamondback Energy has an average rating of “Buy” and a consensus target price of $129.92.
Diamondback Energy (NASDAQ FANG) traded up $4.64 during mid-day trading on Tuesday, reaching $132.21. 918,100 shares of the company traded hands, compared to its average volume of 1,193,814. The firm has a market capitalization of $13,010.00, a P/E ratio of 32.01, a P/E/G ratio of 0.74 and a beta of 1.08. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $132.31. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.31. The business had revenue of $301.30 million during the quarter, compared to the consensus estimate of $296.53 million. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The company’s quarterly revenue was up 112.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) earnings per share. sell-side analysts expect that Diamondback Energy will post 5.09 EPS for the current fiscal year.
In other Diamondback Energy news, CEO Travis D. Stice sold 35,000 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael L. Hollis sold 3,000 shares of the company’s stock in a transaction dated 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. Insiders have sold 79,400 shares of company stock valued at $9,544,350 over the last ninety days. Insiders own 0.41% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Diamondback Energy by 8.9% during the second quarter. Vanguard Group Inc. now owns 7,988,153 shares of the oil and natural gas company’s stock valued at $709,428,000 after buying an additional 651,353 shares in the last quarter. Boston Partners increased its holdings in shares of Diamondback Energy by 18.1% in the 3rd quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock valued at $771,379,000 after purchasing an additional 1,208,864 shares during the period. Warburg Pincus LLC increased its holdings in shares of Diamondback Energy by 132.4% in the 2nd quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock valued at $580,188,000 after purchasing an additional 3,721,519 shares during the period. BlackRock Inc. increased its holdings in shares of Diamondback Energy by 4.9% in the 2nd quarter. BlackRock Inc. now owns 4,936,470 shares of the oil and natural gas company’s stock valued at $438,409,000 after purchasing an additional 229,276 shares during the period. Finally, Capital World Investors increased its holdings in shares of Diamondback Energy by 98.1% in the 2nd quarter. Capital World Investors now owns 2,516,497 shares of the oil and natural gas company’s stock valued at $223,490,000 after purchasing an additional 1,246,072 shares during the period.
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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.
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