Today, Diamondback Energy Inc. (FANG) Coverage Initiated at Mizuho

Today, Diamondback Energy Inc. (FANG) Coverage Initiated at Mizuho

Equities research analysts at Mizuho assumed coverage on shares of Diamondback Energy Inc. (NASDAQ:FANG) in a note issued to investors on Wednesday. The brokerage set a “buy” rating and a $105.00 price target on the stock. Mizuho’s target price would indicate a potential upside of 10.48% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Wednesday, July 20th. KLR Group restated a “buy” rating and set a $122.00 price objective (up previously from $103.00) on shares of Diamondback Energy in a research report on Monday, July 18th. JPMorgan Chase & Co. restated a “buy” rating on shares of Diamondback Energy in a research report on Monday, July 18th. Wunderlich upped their price objective on shares of Diamondback Energy from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 14th. Finally, Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Wednesday, June 29th. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $95.52.

Diamondback Energy (NASDAQ:FANG) opened at 95.04 on Wednesday. The firm’s 50-day moving average is $93.99 and its 200-day moving average is $88.71. Diamondback Energy has a 52 week low of $55.48 and a 52 week high of $99.69. The stock’s market capitalization is $7.42 billion.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. The company earned $112.48 million during the quarter, compared to the consensus estimate of $112.47 million. Diamondback Energy had a negative net margin of 124.95% and a positive return on equity of 3.82%. Diamondback Energy’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, equities research analysts predict that Diamondback Energy will post $1.00 EPS for the current fiscal year.

In other news, CFO Teresa L. Dick sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $95.71, for a total transaction of $95,710.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares of the company’s stock, valued at $2,464,532.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $98.00, for a total transaction of $2,940,000.00. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FANG. Seven Eight Capital LLC bought a new stake in Diamondback Energy during the second quarter worth $119,000. Advisor Group Inc. bought a new stake in Diamondback Energy during the second quarter worth $120,000. PNC Financial Services Group Inc. increased 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 increased 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 increased 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.

Diamondback Energy Company Profile

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