A number of other equities research analysts also recently issued reports on FANG. Wells Fargo & Co lowered their price target on Diamondback Energy from $171.00 to $168.00 and set an outperform rating for the company in a research report on Friday, September 20th. KeyCorp boosted their price target on Diamondback Energy from $125.00 to $133.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. Williams Capital restated a buy rating and set a $165.00 price objective on shares of Diamondback Energy in a research note on Tuesday, July 30th. Credit Suisse Group initiated coverage on Diamondback Energy in a research note on Monday, June 17th. They set an outperform rating and a $135.00 price objective on the stock. Finally, Northland Securities restated a buy rating and set a $150.00 price objective on shares of Diamondback Energy in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $149.38.
Shares of NASDAQ FANG traded up $1.10 during trading on Friday, reaching $83.64. The company had a trading volume of 1,231,809 shares, compared to its average volume of 2,064,333. The stock has a market capitalization of $13.30 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.41 and a beta of 0.77. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. Diamondback Energy has a twelve month low of $80.75 and a twelve month high of $131.34. The stock has a 50-day moving average price of $93.47 and a two-hundred day moving average price of $100.95.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $1.70 EPS for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.04). The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. Diamondback Energy’s revenue for the quarter was up 93.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.59 EPS. On average, sell-side analysts predict that Diamondback Energy will post 7.01 EPS for the current year.
In other news, Director Michael P. Cross sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $104.75, for a total value of $104,750.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Travis D. Stice purchased 4,186 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $95.55 per share, for a total transaction of $399,972.30. The disclosure for this purchase can be found here. Insiders sold 16,000 shares of company stock valued at $1,621,690 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Archford Capital Strategies LLC raised its stake in shares of Diamondback Energy by 1,100.0% in the second quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after acquiring an additional 220 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Diamondback Energy in the second quarter valued at approximately $32,000. Commonwealth Bank of Australia increased its holdings in shares of Diamondback Energy by 81.7% in the second quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 152 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Diamondback Energy in the second quarter valued at approximately $44,000. Finally, Coastal Investment Advisors Inc. increased its holdings in shares of Diamondback Energy by 93.5% in the second quarter. Coastal Investment Advisors Inc. now owns 503 shares of the oil and natural gas company’s stock valued at $54,000 after purchasing an additional 243 shares in the last quarter. Institutional investors and hedge funds own 99.17% 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.
Featured Story: The role of implied volatility with call option volume
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.