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 research report issued on Wednesday. The firm set a “buy” rating and a $105.00 price target on the stock. Mizuho’s price target suggests a potential upside of 10.48% from the company’s current price.
A number of other equities research analysts also recently issued reports on the stock. Simmons reissued an “overweight” rating and set a $109.00 price objective (up previously from $106.00) on shares of Diamondback Energy in a research report on Saturday, August 13th. Piper Jaffray Cos. started coverage on shares of Diamondback Energy in a research report on Monday, July 11th. They set an “overweight” rating and a $101.00 price objective for the company. Zacks Investment Research downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Friday, September 30th. Goldman Sachs Group Inc. reissued a “conviction-buy” rating on shares of Diamondback Energy in a research report on Wednesday, June 8th. Finally, Roth Capital reissued a “hold” rating on shares of Diamondback Energy in a research report on Tuesday, July 12th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $95.52.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 95.04 on Wednesday. The firm’s 50-day moving average price is $93.99 and its 200-day moving average price is $88.71. The stock’s market cap is $7.42 billion. Diamondback Energy has a 52-week low of $55.48 and a 52-week high of $99.69.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, topping 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 business earned $112.48 million during the quarter, compared to the consensus estimate of $112.47 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm’s revenue was down 5.5% on a year-over-year basis. Equities analysts predict that Diamondback Energy will post $1.00 EPS for the current year.
In other news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $85.34, for a total transaction of $170,680.00. Following the transaction, the vice president now directly owns 67,914 shares in the company, valued at $5,795,780.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were 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 institutional investors have recently added to or reduced their stakes in the stock. Seven Eight Capital LLC purchased a new stake in Diamondback Energy during the second quarter worth approximately $119,000. Advisor Group Inc. purchased a new stake in Diamondback Energy during the second quarter worth approximately $120,000. PNC Financial Services Group Inc. boosted 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 boosted 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 boosted 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. Hedge funds and other institutional investors own 99.74% of the company’s stock.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.
Receive News & Stock Ratings for Diamondback Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy Inc. and related stocks with our FREE daily email newsletter.