Other equities research analysts have also issued research reports about the company. Simmons reiterated an overweight rating and issued a $109.00 target price (up previously from $106.00) on shares of Diamondback Energy in a research report on Saturday, August 13th. Zacks Investment Research upgraded Diamondback Energy from a hold rating to a buy rating and set a $102.00 price objective on the stock in a research report on Wednesday, June 29th. Barclays PLC upped their price objective on Diamondback Energy from $85.00 to $88.00 and gave the stock an equal weight rating in a research report on Thursday, July 14th. KLR Group restated a buy rating and issued a $122.00 price objective (up previously from $103.00) on shares of Diamondback Energy in a research report on Monday, July 18th. Finally, BMO Capital Markets restated a buy rating and issued a $95.00 price objective 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 given a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy presently has an average rating of Buy and an average target price of $94.69.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 93.38 on Monday. The company’s 50-day moving average is $94.07 and its 200 day moving average is $88.05. The stock’s market capitalization is $7.29 billion. Diamondback Energy has a 12 month low of $55.48 and a 12 month high of $99.69.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.10. The firm had revenue of $112.48 million for the quarter, compared to analyst estimates of $112.47 million. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. Diamondback Energy’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Equities research analysts predict that Diamondback Energy will post $1.02 earnings per share for the current year.
In related news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $98.00, for a total transaction of $2,940,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Russell Pantermuehl sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $85.34, for a total value of $170,680.00. Following the transaction, the vice president now owns 67,914 shares of the company’s stock, valued at $5,795,780.76. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Miles Capital Inc. boosted its position in shares of Diamondback Energy by 1.5% in the second quarter. Miles Capital Inc. now owns 4,755 shares of the company’s stock worth $434,000 after buying an additional 69 shares during the period. IBM Retirement Fund boosted its position in shares of Diamondback Energy by 1.1% in the second quarter. IBM Retirement Fund now owns 7,238 shares of the company’s stock worth $660,000 after buying an additional 77 shares during the period. Fifth Third Bancorp boosted its position in shares of Diamondback Energy by 0.9% in the second quarter. Fifth Third Bancorp now owns 14,292 shares of the company’s stock worth $1,304,000 after buying an additional 122 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Diamondback Energy by 7.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 2,082 shares of the company’s stock worth $161,000 after buying an additional 141 shares during the period. Finally, Geneva Advisors LLC boosted its position in shares of Diamondback Energy by 1.4% in the second quarter. Geneva Advisors LLC now owns 10,670 shares of the company’s stock worth $973,000 after buying an additional 150 shares during the period. Institutional investors own 99.74% of the company’s stock.
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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