Diamondback Energy Inc. (NASDAQ:FANG)’s share price reached a new 52-week high on Monday after Barclays PLC raised their price target on the stock from $88.00 to $108.00. Barclays PLC currently has an equal weight rating on the stock. Diamondback Energy traded as high as $105.40 and last traded at $104.69, with a volume of 2,238,098 shares. The stock had previously closed at $94.70.
A number of other research firms have also recently weighed in on FANG. Roth Capital reissued a “hold” rating on shares of Diamondback Energy in a report on Tuesday, July 12th. Wunderlich boosted their price target on Diamondback Energy from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. reissued a “buy” rating on shares of Diamondback Energy in a report on Monday, July 18th. Williams Capital reiterated a “hold” rating and issued a $112.00 target price (up from $105.00) on shares of Diamondback Energy in a research note on Monday. Finally, Deutsche Bank AG upped their target price on Diamondback Energy from $104.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Seven analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $98.28.
In other news, VP Elizabeth Moses sold 2,000 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $88.66, for a total transaction of $177,320.00. Following the sale, the vice president now directly owns 11,709 shares in the company, valued at approximately $1,038,119.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the 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 disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Winslow Capital Management LLC bought a new stake in shares of Diamondback Energy during the second quarter worth $255,580,000. FMR LLC boosted its stake in Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock valued at $773,449,000 after buying an additional 665,001 shares in the last quarter. Fiera Capital Corp acquired a new stake in Diamondback Energy during the second quarter valued at approximately $41,604,000. TimesSquare Capital Management LLC acquired a new stake in Diamondback Energy during the first quarter valued at approximately $29,799,000. Finally, Magnetar Financial LLC boosted its stake in Diamondback Energy by 87.2% in the first quarter. Magnetar Financial LLC now owns 748,600 shares of the company’s stock valued at $57,777,000 after buying an additional 348,600 shares in the last quarter. Institutional investors and hedge funds own 99.74% of the company’s stock.
The company’s 50 day moving average is $94.31 and its 200-day moving average is $89.31. The firm’s market cap is $8.18 billion.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The company had revenue of $112.48 million for the quarter, compared to the consensus estimate of $112.47 million. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. On average, equities analysts anticipate that Diamondback Energy Inc. will post $1.00 earnings per share for the current year.
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.
Receive News & Ratings for Diamondback Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.