Diamondback Energy Inc. (NASDAQ:FANG) had its target price boosted by Wunderlich from $110.00 to $130.00 in a report published on Tuesday morning. The brokerage currently has a buy rating on the stock.
FANG has been the subject of several other research reports. Mizuho began coverage on shares of Diamondback Energy in a research report on Wednesday, October 5th. They issued a buy rating and a $105.00 price target for the company. Canaccord Genuity raised shares of Diamondback Energy from a hold rating to a buy rating and set a $100.00 price target for the company in a research report on Wednesday, July 20th. Nomura reaffirmed a buy rating and set a $17.00 price objective on shares of Diamondback Energy in a report on Monday, September 26th. Deutsche Bank AG reaffirmed a buy rating and set a $104.00 price objective on shares of Diamondback Energy in a report on Thursday, August 4th. Finally, Simmons reaffirmed an overweight rating and set a $106.00 price objective (up from $101.00) on shares of Diamondback Energy in a report on Tuesday, July 26th. Six equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy has a consensus rating of Buy and a consensus price target of $99.86.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 100.60 on Tuesday. The firm’s 50-day moving average is $94.88 and its 200 day moving average is $89.69. Diamondback Energy has a 52-week low of $55.48 and a 52-week high of $106.84. The company’s market capitalization is $7.85 billion.
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 consensus estimate of $0.16 by $0.10. Diamondback Energy had a negative net margin of 124.95% and a positive return on equity of 3.82%. The business earned $112.48 million during the quarter, compared to the consensus estimate of $112.47 million. During the same quarter last year, the firm posted $0.41 EPS. Diamondback Energy’s revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Diamondback Energy will post $1.00 earnings per share for the current year.
In related 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 sale, the vice president now directly owns 67,914 shares of the company’s stock, valued at $5,795,780.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction on Thursday, August 18th. The shares were 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. Corporate insiders own 0.52% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Creative Planning boosted 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 during the period. Cupps Capital Management LLC increased its position in Diamondback Energy by 23.5% in the third quarter. Cupps Capital Management LLC now owns 9,050 shares of the company’s stock worth $873,000 after buying an additional 1,720 shares in the last quarter. Foundry Partners LLC purchased a new position in Diamondback Energy during the third quarter worth $203,000. Copper Rock Capital Partners LLC increased its position in Diamondback Energy by 13.2% in the third quarter. Copper Rock Capital Partners LLC now owns 4,253 shares of the company’s stock worth $406,000 after buying an additional 497 shares in the last quarter. Finally, Fulton Bank N.A. increased its position in Diamondback Energy by 10.1% in the third quarter. Fulton Bank N.A. now owns 2,871 shares of the company’s stock worth $277,000 after buying an additional 264 shares in the last quarter. 99.74% of the stock is currently owned by institutional investors.
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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