Piper Jaffray reissued their buy rating on shares of Diamondback Energy (NASDAQ:FANG) in a research note published on Wednesday. Piper Jaffray currently has a $143.00 target price on the oil and natural gas company’s stock. Piper Jaffray also issued estimates for Diamondback Energy’s Q1 2018 earnings at $1.60 EPS, Q2 2018 earnings at $1.62 EPS, Q3 2018 earnings at $1.74 EPS, Q4 2018 earnings at $1.87 EPS, FY2018 earnings at $6.83 EPS, Q1 2019 earnings at $2.13 EPS, Q2 2019 earnings at $2.27 EPS, Q3 2019 earnings at $2.44 EPS, Q4 2019 earnings at $2.57 EPS and FY2019 earnings at $9.41 EPS.
Other equities analysts have also issued reports about the stock. B. Riley assumed coverage on shares of Diamondback Energy in a research report on Monday, February 5th. They issued a neutral rating and a $150.00 price objective for the company. Morgan Stanley cut their price target on shares of Diamondback Energy to $164.00 and set an overweight rating on the stock in a report on Wednesday, February 7th. Stifel Nicolaus set a $169.00 price target on shares of Diamondback Energy and gave the stock a buy rating in a report on Tuesday, April 10th. Deutsche Bank assumed coverage on shares of Diamondback Energy in a report on Thursday, February 1st. They issued a buy rating and a $162.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Diamondback Energy from a hold rating to a buy rating and set a $146.00 price target on the stock in a report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $141.56.
Shares of Diamondback Energy stock opened at $128.40 on Wednesday. The company has a market capitalization of $12,651.80, a P/E ratio of 24.23, a P/E/G ratio of 0.72 and a beta of 0.83. 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 52 week low of $82.77 and a 52 week high of $134.60.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 13th. The oil and natural gas company reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.16. The firm had revenue of $399.19 million during the quarter, compared to analyst estimates of $370.74 million. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.63%. analysts expect that Diamondback Energy will post 6.91 EPS for the current fiscal year.
In other news, insider Michael L. Hollis sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $118.80, for a total transaction of $356,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Teresa L. Dick sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $130.97, for a total transaction of $327,425.00. The disclosure for this sale can be found here. Insiders have sold a total of 136,431 shares of company stock worth $17,070,232 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Castleark Management LLC grew its stake in shares of Diamondback Energy by 127.1% during the 4th quarter. Castleark Management LLC now owns 113,983 shares of the oil and natural gas company’s stock worth $14,390,000 after purchasing an additional 63,801 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in Diamondback Energy by 25.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 15,287 shares of the oil and natural gas company’s stock valued at $1,930,000 after acquiring an additional 3,126 shares during the period. California Public Employees Retirement System grew its stake in Diamondback Energy by 12.5% in the 4th quarter. California Public Employees Retirement System now owns 209,415 shares of the oil and natural gas company’s stock valued at $26,439,000 after acquiring an additional 23,254 shares during the period. Gradient Investments LLC acquired a new stake in Diamondback Energy in the 4th quarter valued at $517,000. Finally, Sei Investments Co. grew its stake in Diamondback Energy by 33.7% in the 4th quarter. Sei Investments Co. now owns 157,323 shares of the oil and natural gas company’s stock valued at $19,863,000 after acquiring an additional 39,657 shares during the period.
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Diamondback Energy Company Profile
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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