Diamondback Energy (NASDAQ:FANG – Get Free Report) had its price target boosted by equities researchers at Bank of America from $201.00 to $215.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the oil and natural gas company’s stock. Bank of America‘s target price suggests a potential upside of 8.13% from the company’s previous close.
Other analysts have also issued reports about the company. Scotiabank cut their price objective on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. StockNews.com lowered Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Piper Sandler increased their price objective on Diamondback Energy from $247.00 to $249.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Evercore ISI increased their price objective on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Finally, Wolfe Research assumed coverage on shares of Diamondback Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.65.
Get Our Latest Research Report on Diamondback Energy
Diamondback Energy Price Performance
FANG opened at $198.83 on Tuesday. The stock has a fifty day moving average of $197.81 and a 200-day moving average of $187.72. The firm has a market capitalization of $35.46 billion, a P/E ratio of 11.21, a PEG ratio of 1.13 and a beta of 1.90. Diamondback Energy has a 12-month low of $142.71 and a 12-month high of $214.50. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last released its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.10 earnings per share. Equities analysts forecast that Diamondback Energy will post 18.7 EPS for the current fiscal year.
Insiders Place Their Bets
In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at $1,516,241.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at $1,516,241.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the transaction, the chief operating officer now owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the company. Schwartz Investment Counsel Inc. raised its position in Diamondback Energy by 3.0% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 289,700 shares of the oil and natural gas company’s stock worth $57,995,000 after purchasing an additional 8,500 shares during the last quarter. TrueWealth Advisors LLC raised its position in Diamondback Energy by 24.5% in the 2nd quarter. TrueWealth Advisors LLC now owns 4,173 shares of the oil and natural gas company’s stock worth $835,000 after purchasing an additional 820 shares during the last quarter. Tower Bridge Advisors bought a new position in Diamondback Energy in the 2nd quarter worth approximately $1,156,000. Premier Path Wealth Partners LLC raised its position in Diamondback Energy by 5.4% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 1,468 shares of the oil and natural gas company’s stock worth $294,000 after purchasing an additional 75 shares during the last quarter. Finally, Catalina Capital Group LLC raised its position in Diamondback Energy by 6.5% in the 2nd quarter. Catalina Capital Group LLC now owns 1,353 shares of the oil and natural gas company’s stock worth $271,000 after purchasing an additional 83 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It 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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