Trade Report: Today, Diamondback Energy Inc. (FANG) Earns Outperform Rating from Raymond James Financial Inc.

Today, Diamondback Energy Inc. (FANG) Earns Outperform Rating from Raymond James Financial Inc.

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

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