Diamondback Energy Inc. (NASDAQ:FANG)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Raymond James Financial Inc. in a research report issued on Thursday. They currently have a $117.00 price target on the stock, up from their prior price target of $104.00. Raymond James Financial Inc.’s price objective suggests a potential upside of 11.92% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Barclays PLC lifted their price target on shares of Diamondback Energy from $88.00 to $108.00 and gave the company an “equal weight” rating in a research report on Tuesday. Canaccord Genuity reissued a “buy” rating and set a $116.00 price target (up from $103.00) on shares of Diamondback Energy in a research report on Tuesday. KLR Group lifted their price target on shares of Diamondback Energy from $126.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday. Wunderlich lifted their price target on shares of Diamondback Energy from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Williams Capital reissued a “hold” rating and set a $112.00 price target (up from $105.00) on shares of Diamondback Energy in a research report on Monday. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Diamondback Energy currently has a consensus rating of “Buy” and an average target price of $99.55.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

Diamondback Energy (NASDAQ:FANG) traded down 1.32% on Thursday, reaching $103.16. 205,724 shares of the company’s stock were exchanged. The company’s market cap is $8.05 billion. The firm’s 50 day moving average price is $94.53 and its 200 day moving average price is $89.42. Diamondback Energy has a 52-week low of $55.48 and a 52-week high of $106.84.

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

In other news, COO Michael L. Hollis sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael L. Hollis sold 10,000 shares of the company’s stock in a transaction dated 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. 0.52% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of FANG. Miles Capital Inc. boosted its position in Diamondback Energy by 1.5% in the second quarter. Miles Capital Inc. now owns 4,755 shares of the company’s stock worth $434,000 after buying an additional 69 shares during the last quarter. Creative Planning raised its stake in 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 period. IBM Retirement Fund raised its stake in Diamondback Energy by 1.1% in the second quarter. IBM Retirement Fund now owns 7,238 shares of the company’s stock worth $660,000 after buying an additional 77 shares during the period. Fifth Third Bancorp raised its stake in Diamondback Energy by 0.9% in the second quarter. Fifth Third Bancorp now owns 14,292 shares of the company’s stock worth $1,304,000 after buying an additional 122 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised 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 period. Hedge funds and other institutional investors own 99.74% of the company’s stock.

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.

5 Day Chart for NASDAQ:FANG

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