Diamondback Energy Inc. (NASDAQ:FANG)‘s stock had its “hold” rating reaffirmed by Williams Capital in a research report issued to clients and investors on Monday. They presently have a $112.00 price target on the stock, up from their previous price target of $105.00. Williams Capital’s price objective would suggest a potential upside of 6.82% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Simmons reiterated an “overweight” rating and set a $109.00 target price (up 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 target for the company in a research note on Wednesday, June 29th. Barclays PLC upped their price target on Diamondback Energy from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 14th. KLR Group restated a “buy” rating and set a $122.00 price target (up from $103.00) on shares of Diamondback Energy in a research note on Monday, July 18th. Finally, BMO Capital Markets restated a “buy” rating and set a $95.00 price target on shares of Diamondback Energy in a research note on Wednesday, August 3rd. Seven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $98.28.
Diamondback Energy (NASDAQ:FANG) opened at 104.84 on Monday. Diamondback Energy has a one year low of $55.48 and a one year high of $106.84. The firm’s market cap is $8.18 billion. The company has a 50-day moving average of $94.31 and a 200 day moving average of $89.31.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ 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 had revenue of $112.48 million for the quarter, compared to the consensus estimate of $112.47 million. During the same period in the prior year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Equities research analysts expect that Diamondback Energy will post $1.00 earnings per share for the current fiscal year.
In other news, VP Russell Pantermuehl sold 2,000 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $85.34, for a total value of $170,680.00. Following the completion of the sale, the vice president now owns 67,914 shares of the company’s stock, valued at $5,795,780.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction 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. 0.52% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Seven Eight Capital LLC acquired a new stake in shares of Diamondback Energy during the second quarter valued at approximately $119,000. Advisor Group Inc. purchased a new stake in Diamondback Energy during the second quarter worth about $120,000. PNC Financial Services Group Inc. boosted 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 worth $125,000 after buying an additional 491 shares during the last quarter. BNP Paribas Arbitrage SA boosted 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 worth $145,000 after buying an additional 1,264 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in 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 last quarter. 99.74% of the stock is owned by institutional investors and hedge funds.
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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