Diamondback Energy (NASDAQ:FANG) had its target price reduced by Raymond James from $155.00 to $120.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. Raymond James currently has a strong-buy rating on the oil and natural gas company’s stock.
A number of other analysts have also commented on FANG. Citigroup decreased their target price on Diamondback Energy from $135.00 to $118.00 and set a buy rating for the company in a research report on Monday, September 23rd. JPMorgan Chase & Co. decreased their price objective on Diamondback Energy from $152.00 to $139.00 and set an overweight rating for the company in a report on Wednesday, October 9th. They noted that the move was a valuation call. Oppenheimer decreased their price objective on Diamondback Energy from $151.00 to $138.00 and set an outperform rating for the company in a report on Thursday, August 22nd. Morgan Stanley decreased their price objective on Diamondback Energy from $131.00 to $129.00 and set an overweight rating for the company in a report on Monday, October 14th. Finally, BidaskClub lowered Diamondback Energy from a sell rating to a strong sell rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $146.61.
Shares of Diamondback Energy stock opened at $81.97 on Thursday. Diamondback Energy has a one year low of $80.75 and a one year high of $129.39. The firm has a market capitalization of $13.70 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 0.43 and a beta of 0.77. The business has a 50-day simple moving average of $91.86 and a 200 day simple moving average of $100.32. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.82 and a quick ratio of 0.79.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.04). Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $1.59 earnings per share. The business’s quarterly revenue was up 93.7% on a year-over-year basis. On average, sell-side analysts expect that Diamondback Energy will post 6.82 EPS for the current year.
In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $100.78, for a total transaction of $201,560.00. Following the sale, the vice president now owns 110,107 shares of the company’s stock, valued at approximately $11,096,583.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Travis D. Stice bought 4,186 shares of the stock in a transaction on Friday, August 9th. The shares were acquired at an average cost of $95.55 per share, for a total transaction of $399,972.30. The disclosure for this purchase can be found here. In the last quarter, insiders sold 16,000 shares of company stock worth $1,621,690. 0.47% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Archford Capital Strategies LLC raised its holdings in Diamondback Energy by 1,100.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after acquiring an additional 220 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Diamondback Energy during the 2nd quarter valued at $32,000. Commonwealth Bank of Australia raised its holdings in Diamondback Energy by 81.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 152 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in Diamondback Energy during the 2nd quarter valued at $44,000. Finally, Crewe Advisors LLC bought a new stake in Diamondback Energy during the 2nd quarter valued at $54,000. 99.03% of the stock is currently owned by institutional investors and hedge funds.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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