Diamondback Energy Inc. (NASDAQ:FANG) had its price target hoisted by Barclays PLC from $88.00 to $108.00 in a report released on Tuesday morning. Barclays PLC currently has an equal weight rating on the stock.
A number of other equities analysts have also recently issued reports on FANG. Deutsche Bank AG lifted their target price on Diamondback Energy from $100.00 to $104.00 and gave the stock a buy rating in a report on Tuesday, June 14th. Zacks Investment Research upgraded Diamondback Energy from a hold rating to a buy rating and set a $102.00 target price on the stock in a report on Wednesday, June 29th. Simmons initiated coverage on Diamondback Energy in a report on Monday, July 11th. They issued an overweight rating and a $101.00 target price on the stock. Piper Jaffray Cos. initiated coverage on Diamondback Energy in a report on Monday, July 11th. They set an overweight rating and a $101.00 price target on the stock. Finally, Roth Capital reiterated a hold rating on shares of Diamondback Energy in a report on Tuesday, July 12th. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $99.86.
Diamondback Energy (NASDAQ:FANG) opened at 103.53 on Tuesday. The stock’s market capitalization is $8.08 billion. Diamondback Energy has a 12-month low of $55.48 and a 12-month high of $106.84. The stock has a 50 day moving average price of $94.74 and a 200-day moving average price of $89.52.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. The business had revenue of $112.48 million for the quarter, compared to analysts’ expectations of $112.47 million. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. Equities research analysts expect that Diamondback Energy will post $1.00 EPS for the current year.
In other news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $98.00, for a total value of $2,940,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Teresa L. Dick sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $95.71, for a total value of $95,710.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares in the company, valued at $2,464,532.50. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in FANG. Creative Planning raised its stake in Diamondback Energy by 7.3% in the third quarter. Creative Planning now owns 1,073 shares of the company’s stock valued at $104,000 after buying an additional 73 shares in the last quarter. Seven Eight Capital LLC bought a new stake in Diamondback Energy during the second quarter valued at $119,000. Advisor Group Inc. bought a new stake in Diamondback Energy during the second quarter valued at $120,000. PNC Financial Services Group Inc. raised its stake in Diamondback Energy by 56.6% in the second quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the company’s stock valued at $125,000 after buying an additional 491 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Diamondback Energy by 537.9% in the third quarter. BNP Paribas Arbitrage SA now owns 1,499 shares of the company’s stock valued at $145,000 after buying an additional 1,264 shares in the last quarter. Institutional investors own 99.74% of the company’s stock.
About Diamondback Energy
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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