Diamondback Energy (NASDAQ:FANG) received a $151.00 price objective from equities researchers at Morgan Stanley in a research note issued on Monday, June 24th, Stock Target Advisor reports. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Morgan Stanley’s target price indicates a potential upside of 44.96% from the company’s previous close.
FANG has been the topic of a number of other reports. Bank of America reissued a “buy” rating and set a $165.00 target price (up from $154.00) on shares of Diamondback Energy in a report on Tuesday, April 16th. ValuEngine raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Wells Fargo & Co boosted their target price on Diamondback Energy from $161.00 to $177.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Northland Securities reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Diamondback Energy in a report on Friday, March 29th. Finally, BidaskClub lowered Diamondback Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $159.04.
NASDAQ:FANG opened at $104.17 on Monday. The company has a market cap of $18.01 billion, a PE ratio of 17.75, a PEG ratio of 0.66 and a beta of 0.85. The company’s 50-day simple moving average is $104.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.62 and a quick ratio of 0.59. Diamondback Energy has a fifty-two week low of $85.19 and a fifty-two week high of $140.78.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The firm had revenue of $864.00 million for the quarter, compared to analyst estimates of $893.16 million. Diamondback Energy had a return on equity of 6.81% and a net margin of 27.05%. The business’s quarterly revenue was up 80.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 EPS. Equities analysts anticipate that Diamondback Energy will post 8.01 earnings per share for the current year.
In related news, VP Russell Pantermuehl sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $107.28, for a total transaction of $536,400.00. Following the completion of the sale, the vice president now owns 112,107 shares of the company’s stock, valued at $12,026,838.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $107.47, for a total value of $161,205.00. Following the sale, the chief financial officer now directly owns 27,465 shares of the company’s stock, valued at approximately $2,951,663.55. The disclosure for this sale can be found here. In the last three months, insiders sold 11,500 shares of company stock valued at $1,258,505. Insiders own 0.47% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its holdings in Diamondback Energy by 0.3% during the third quarter. Vanguard Group Inc now owns 8,587,857 shares of the oil and natural gas company’s stock valued at $1,160,994,000 after purchasing an additional 23,673 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Diamondback Energy by 34.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 4,679 shares of the oil and natural gas company’s stock valued at $434,000 after purchasing an additional 1,193 shares during the last quarter. Westpac Banking Corp grew its holdings in Diamondback Energy by 74.3% during the fourth quarter. Westpac Banking Corp now owns 10,853 shares of the oil and natural gas company’s stock valued at $1,006,000 after purchasing an additional 4,625 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its position in shares of Diamondback Energy by 12.2% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 4,179 shares of the oil and natural gas company’s stock valued at $387,000 after acquiring an additional 456 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Diamondback Energy by 738.3% in the fourth quarter. Prudential Financial Inc. now owns 158,943 shares of the oil and natural gas company’s stock valued at $14,734,000 after acquiring an additional 139,983 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.
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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