Diamondback Energy Inc. (FANG) Price Target Increased to $130.00 by Analysts at Wunderlich
Diamondback Energy Inc. (NASDAQ:FANG) had its target price hoisted by Wunderlich from $110.00 to $130.00 in a research report report published on Tuesday. Wunderlich currently has a buy rating on the stock.
A number of other equities research analysts have also recently issued reports on the stock. Simmons reaffirmed an overweight rating and issued a $109.00 price objective (up previously from $106.00) on shares of Diamondback Energy in a research note on Saturday, August 13th. Zacks Investment Research cut shares of Diamondback Energy from a buy rating to a hold rating in a research note on Friday, September 30th. Piper Jaffray Cos. assumed coverage on shares of Diamondback Energy in a report on Monday, July 11th. They set an overweight rating and a $101.00 price target for the company. Roth Capital reiterated a hold rating on shares of Diamondback Energy in a report on Tuesday, July 12th. Finally, Mizuho assumed coverage on shares of Diamondback Energy in a report on Wednesday, October 5th. They set a buy rating and a $105.00 price target for the company. Seven analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $98.28.
Diamondback Energy (NASDAQ:FANG) traded up 0.07% on Tuesday, hitting $104.91. 394,959 shares of the company were exchanged. The stock’s market capitalization is $8.19 billion. Diamondback Energy has a 52-week low of $55.48 and a 52-week high of $106.84. The stock’s 50-day moving average price is $94.31 and its 200-day moving average price is $89.31.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company earned $112.48 million during the quarter, compared to analysts’ expectations of $112.47 million. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Diamondback Energy will post $1.00 earnings per share for the current fiscal year.
In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the firm’s 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 sale, the vice president now owns 67,914 shares in the company, valued at approximately $5,795,780.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was 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. 0.52% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Virginia Retirement System purchased a new stake in Diamondback Energy during the first quarter worth approximately $880,000. Prudential Financial Inc. boosted its stake in Diamondback Energy by 113.6% in the first quarter. Prudential Financial Inc. now owns 7,328 shares of the company’s stock worth $565,000 after buying an additional 3,898 shares during the last quarter. BlackRock Inc. boosted its stake in Diamondback Energy by 309.5% in the first quarter. BlackRock Inc. now owns 8,366 shares of the company’s stock worth $646,000 after buying an additional 6,323 shares during the last quarter. BlackRock Group LTD boosted its stake 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 during the last quarter. Finally, BlackRock Fund Advisors boosted its stake 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 during the last quarter. 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.
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