The Mizuho Reiterates “Buy” Rating for Diamondback Energy Inc. (FANG)

The Mizuho Reiterates “Buy” Rating for Diamondback Energy Inc. (FANG)

Diamondback Energy Inc. (NASDAQ:FANG)‘s stock had its “buy” rating restated by equities research analysts at Mizuho in a research report issued to clients and investors on Monday. They currently have a $105.00 price target on the stock. Mizuho’s price objective would indicate a potential upside of 4.06% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. SunTrust Banks Inc. upped their price objective on shares of Diamondback Energy from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. 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. Stephens upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. restated a “buy” rating on shares of Diamondback Energy in a research report on Monday, July 18th. Finally, BMO Capital Markets restated a “buy” rating and set a $95.00 price objective on shares of Diamondback Energy in a research report on Wednesday, August 3rd. Five equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy presently has a consensus rating of “Buy” and an average price target of $99.86.

Diamondback Energy (NASDAQ:FANG) traded down 1.09% during trading on Monday, reaching $99.80. 655,292 shares of the company were exchanged. The stock has a 50 day moving average price of $94.88 and a 200 day moving average price of $89.69. The firm’s market capitalization is $7.79 billion. Diamondback Energy has a 12 month low of $55.48 and a 12 month high of $106.84.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, beating the consensus estimate 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 firm earned $112.48 million during the quarter, compared to the consensus estimate of $112.47 million. During the same quarter in the prior year, the firm earned $0.41 EPS. Diamondback Energy’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, analysts expect that Diamondback Energy will post $1.00 EPS for the current fiscal year.

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $98.00, for a total value of $2,940,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael L. Hollis sold 10,000 shares of Diamondback Energy stock in a transaction on Monday, October 10th. The stock was sold at an average price of $104.00, for a total transaction of $1,040,000.00. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Diamondback Energy by 3.3% in the first quarter. BlackRock Fund Advisors now owns 798,166 shares of the company’s stock worth $61,602,000 after buying an additional 25,366 shares in the last quarter. Geode Capital Management LLC increased its position in Diamondback Energy by 12.0% in the first quarter. Geode Capital Management LLC now owns 466,203 shares of the company’s stock worth $35,981,000 after buying an additional 49,821 shares in the last quarter. Nuveen Asset Management LLC increased its position in Diamondback Energy by 3.2% in the first quarter. Nuveen Asset Management LLC now owns 23,811 shares of the company’s stock worth $1,838,000 after buying an additional 744 shares in the last quarter. Magnetar Financial LLC increased its position in Diamondback Energy by 87.2% in the first quarter. Magnetar Financial LLC now owns 748,600 shares of the company’s stock worth $57,777,000 after buying an additional 348,600 shares in the last quarter. Finally, BlackRock Group LTD increased its position in Diamondback Energy by 20.5% in the first quarter. BlackRock Group LTD now owns 130,421 shares of the company’s stock worth $10,064,000 after buying an additional 22,155 shares in the last quarter. 99.74% of the stock is owned by hedge funds and other institutional investors.

About Diamondback Energy

Related posts

Leave a Comment