UBS Group Increases Diamondback Energy (NASDAQ:FANG) Price Target to $247.00

Diamondback Energy (NASDAQ:FANG) had its price target lifted by investment analysts at UBS Group from $245.00 to $247.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the oil and natural gas company’s stock. UBS Group’s price objective points to a potential upside of 29.24% from the stock’s current price.

A number of other equities analysts also recently weighed in on FANG. Bank of America boosted their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. StockNews.com cut Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Benchmark reissued a “buy” rating and set a $154.00 target price on shares of Diamondback Energy in a report on Tuesday, August 6th. KeyCorp assumed coverage on Diamondback Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price target for the company. Finally, Sanford C. Bernstein decreased their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $211.85.

Diamondback Energy Stock Up 0.7 %

Shares of Diamondback Energy stock opened at $191.12 on Tuesday. The firm has a market cap of $34.09 billion, a PE ratio of 10.77, a P/E/G ratio of 1.06 and a beta of 1.90. The business’s 50 day simple moving average is $198.47 and its 200 day simple moving average is $193.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. Diamondback Energy has a 52-week low of $143.08 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the company earned $3.68 earnings per share. The firm’s revenue was up 29.4% compared to the same quarter last year. On average, analysts predict that Diamondback Energy will post 18.63 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the transaction, the chief operating officer now directly owns 69,677 shares in the company, valued at approximately $13,736,123.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Several hedge funds have recently modified their holdings of FANG. Founders Capital Management grew its position in shares of Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after buying an additional 101 shares during the last quarter. First Community Trust NA bought a new position in shares of Diamondback Energy in the 2nd quarter worth $26,000. Carolinas Wealth Consulting LLC increased its position in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Logan Capital Management Inc. purchased a new stake in Diamondback Energy in the 4th quarter valued at $31,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the second quarter valued at about $40,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It 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.