Diamondback Energy Inc. (NASDAQ:FANG) shares reached a new 52-week high during mid-day trading on Monday after Williams Capital raised their price target on the stock from $105.00 to $112.00. Williams Capital currently has a hold rating on the stock. Diamondback Energy traded as high as $105.40 and last traded at $104.69, with a volume of 2,238,098 shares trading hands. The stock had previously closed at $94.70.

A number of other research analysts have also recently issued reports on FANG. SunTrust Banks Inc. lifted their target price on Diamondback Energy from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. KLR Group reiterated a “buy” rating and issued a $122.00 target price (up previously from $103.00) on shares of Diamondback Energy in a research report on Monday, July 18th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Diamondback Energy in a research report on Monday, July 18th. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 target price on shares of Diamondback Energy in a research report on Wednesday, August 3rd. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $108.00 target price on shares of Diamondback Energy in a research report on Friday, August 5th. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $95.76.

In other Diamondback Energy news, CFO Teresa L. Dick sold 1,000 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $95.71, for a total value of $95,710.00. Following the completion of the transaction, the chief financial officer now owns 25,750 shares in the company, valued at approximately $2,464,532.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Elizabeth Moses sold 2,000 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $88.66, for a total value of $177,320.00. Following the completion of the transaction, the vice president now owns 11,709 shares of the company’s stock, valued at approximately $1,038,119.94. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in FANG. Foundry Partners LLC acquired a new position in shares of Diamondback Energy during the third quarter worth about $203,000. Copper Rock Capital Partners LLC increased its position in shares of Diamondback Energy by 13.2% in the third quarter. Copper Rock Capital Partners LLC now owns 4,253 shares of the company’s stock worth $406,000 after buying an additional 497 shares during the period. Fulton Bank N.A. increased its position in shares of Diamondback Energy by 10.1% in the third quarter. Fulton Bank N.A. now owns 2,871 shares of the company’s stock worth $277,000 after buying an additional 264 shares during the period. BNP Paribas Arbitrage SA increased its position 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 period. Finally, Macquarie Group Ltd. increased its position in shares of Diamondback Energy by 17.4% in the second quarter. Macquarie Group Ltd. now owns 151,043 shares of the company’s stock worth $13,777,000 after buying an additional 22,409 shares during the period. Hedge funds and other institutional investors own 99.74% of the company’s stock.

The stock’s 50-day moving average price is $93.88 and its 200 day moving average price is $88.83. The firm’s market capitalization is $8.17 billion.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.10. The company earned $112.48 million during the quarter, compared to analysts’ expectations of $112.47 million. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. Analysts expect that Diamondback Energy Inc. will post $1.00 earnings per share for the current fiscal year.

Diamondback Energy Company Profile

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.

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