Raymond James Financial Inc. reaffirmed their outperform rating on shares of Diamondback Energy Inc. (NASDAQ:FANG) in a report issued on Thursday. The brokerage currently has a $117.00 price target on the stock, up from their previous price target of $104.00.
Several other brokerages have also commented on FANG. Nomura reaffirmed a buy rating and issued a $17.00 price objective on shares of Diamondback Energy in a research report on Monday, September 26th. Mizuho assumed coverage on shares of Diamondback Energy in a research report on Wednesday, October 5th. They issued a buy rating and a $105.00 price objective on the stock. Williams Capital assumed coverage on shares of Diamondback Energy in a research report on Monday, August 29th. They issued a hold rating and a $105.00 price objective on the stock. Zacks Investment Research lowered shares of Diamondback Energy from a buy rating to a hold rating in a research report on Friday, September 30th. Finally, KeyCorp lifted their price objective on shares of Diamondback Energy from $107.00 to $110.00 and gave the stock an overweight rating in a research report on Monday, August 22nd. Five equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $99.86.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 100.47 on Thursday. Diamondback Energy has a one year low of $55.48 and a one year high of $106.84. The stock’s 50 day moving average is $94.99 and its 200-day moving average is $90.03. The company’s market cap is $7.84 billion.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $112.48 million for the quarter, compared to analyst estimates of $112.47 million. During the same period last year, the firm earned $0.41 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy will post $1.00 earnings per share for the current year.
In other news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $98.00, for a total transaction of $2,940,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Elizabeth Moses sold 2,000 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $88.66, for a total value of $177,320.00. Following the sale, the vice president now owns 11,709 shares in the company, valued at approximately $1,038,119.94. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Large investors have recently modified their holdings of the company. Creative Planning raised its stake in shares of Diamondback Energy by 7.3% in the third quarter. Creative Planning now owns 1,073 shares of the company’s stock worth $104,000 after buying an additional 73 shares during the last quarter. Seven Eight Capital LLC acquired a new stake in shares of Diamondback Energy during the second quarter worth $119,000. Advisor Group Inc. acquired a new stake in shares of Diamondback Energy during the second quarter worth $120,000. PNC Financial Services Group Inc. raised its stake in shares of 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. Finally, BNP Paribas Arbitrage SA raised its stake in shares of 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. Institutional investors and hedge funds own 99.74% of the company’s stock.
Diamondback Energy Company Profile