Other equities research analysts also recently issued research reports about the company. Wunderlich boosted their price target on Diamondback Energy from $110.00 to $130.00 and gave the company a buy rating in a research report on Tuesday. Simmons reissued an overweight rating and set a $109.00 price target (up previously from $106.00) on shares of Diamondback Energy in a research report on Saturday, August 13th. Barclays PLC boosted their price target on Diamondback Energy from $85.00 to $88.00 and gave the company an equal weight rating in a research report on Thursday, July 14th. Zacks Investment Research raised Diamondback Energy from a hold rating to a buy rating and set a $102.00 price target for the company in a research report on Wednesday, June 29th. Finally, BMO Capital Markets reissued a buy rating and set a $95.00 price target on shares of Diamondback Energy in a research report on Wednesday, August 3rd. Seven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $98.28.
Diamondback Energy (NASDAQ:FANG) traded up 0.07% during mid-day trading on Tuesday, hitting $104.91. The company had a trading volume of 394,959 shares. Diamondback Energy has a 52-week low of $55.48 and a 52-week high of $106.84. The company’s market capitalization is $8.19 billion. The company has a 50-day moving average price of $94.31 and a 200 day moving average price of $89.31.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.10. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The firm earned $112.48 million during the quarter, compared to the consensus estimate of $112.47 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, analysts forecast that Diamondback Energy will post $1.00 EPS for the current fiscal year.
In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $85.34, for a total transaction of $170,680.00. Following the completion of the transaction, the vice president now directly owns 67,914 shares of the company’s stock, valued at approximately $5,795,780.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Michael L. Hollis sold 1,000 shares of the stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors raised its position in shares of Diamondback Energy by 3.3% in the first quarter. BlackRock Fund Advisors now owns 798,166 shares of the company’s stock worth $61,602,000 after buying an additional 25,366 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 12.0% in the first quarter. Geode Capital Management LLC now owns 466,203 shares of the company’s stock worth $35,981,000 after buying an additional 49,821 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Diamondback Energy by 3.2% in the first quarter. Nuveen Asset Management LLC now owns 23,811 shares of the company’s stock worth $1,838,000 after buying an additional 744 shares during the last quarter. Magnetar Financial LLC raised its position in shares of Diamondback Energy by 87.2% in the first quarter. Magnetar Financial LLC now owns 748,600 shares of the company’s stock worth $57,777,000 after buying an additional 348,600 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Diamondback Energy by 20.5% in the first quarter. BlackRock Group LTD now owns 130,421 shares of the company’s stock worth $10,064,000 after buying an additional 22,155 shares during the last quarter. 99.74% of the stock is owned by hedge funds and other institutional investors.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.
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