Diamondback Energy Inc. (NASDAQ:FANG) had its price target upped by Wunderlich from $110.00 to $130.00 in a research report report published on Tuesday. Wunderlich currently has a buy rating on the stock.
A number of other brokerages have also recently commented on FANG. Williams Capital restated a hold rating and set a $112.00 target price (up from $105.00) on shares of Diamondback Energy in a report on Monday. KeyCorp lifted their price objective on Diamondback Energy from $107.00 to $110.00 and gave the company an overweight rating in a research note on Monday, August 22nd. Zacks Investment Research cut Diamondback Energy from a buy rating to a hold rating in a research note on Friday, September 30th. Mizuho initiated coverage on Diamondback Energy in a research note on Wednesday, October 5th. They issued a buy rating and a $105.00 price objective for the company. Finally, Simmons reiterated an overweight rating and issued a $109.00 price objective (up previously from $106.00) on shares of Diamondback Energy in a research note on Saturday, August 13th. 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 stock. The stock has a consensus rating of Buy and an average target price of $98.28.
Diamondback Energy (NASDAQ:FANG) traded up 0.07% during midday trading on Tuesday, reaching $104.91. 394,959 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $94.31 and its 200 day moving average is $89.31. The firm’s market capitalization is $8.19 billion. Diamondback Energy has a 52 week low of $55.48 and a 52 week high of $106.84.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates 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 company earned $112.48 million during the quarter, compared to analysts’ expectations of $112.47 million. During the same period last year, the business posted $0.41 EPS. Diamondback Energy’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, equities analysts anticipate that Diamondback Energy will post $1.00 earnings per share for the current year.
In other news, COO Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the business’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 insiders.
Institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock worth $773,449,000 after buying an additional 665,001 shares during the period. Wellington Management Group LLP boosted its position in Diamondback Energy by 0.4% in the first quarter. Wellington Management Group LLP now owns 7,512,803 shares of the company’s stock worth $579,839,000 after buying an additional 26,247 shares during the period. Boston Partners boosted its position in Diamondback Energy by 4.4% in the second quarter. Boston Partners now owns 7,138,560 shares of the company’s stock worth $651,109,000 after buying an additional 303,405 shares during the period. Vanguard Group Inc. boosted its position in Diamondback Energy by 2.1% in the second quarter. Vanguard Group Inc. now owns 5,151,072 shares of the company’s stock worth $469,829,000 after buying an additional 106,359 shares during the period. Finally, Winslow Capital Management LLC bought a new position in Diamondback Energy during the second quarter worth $255,580,000. 99.74% of the stock is owned by institutional investors.
About Diamondback Energy