Diamondback Energy Inc. (NASDAQ:FANG) has been assigned an average recommendation of “Buy” from the thirty-three ratings firms that are currently covering the company. Six analysts have rated the stock with a hold recommendation, twenty-five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $100.41.

FANG has been the subject of several recent research reports. Zacks Investment Research raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Wednesday, June 29th. Simmons initiated coverage on shares of Diamondback Energy in a research report on Monday, July 11th. They issued an “overweight” rating and a $101.00 price objective for the company. Piper Jaffray Cos. initiated coverage on shares of Diamondback Energy in a research report on Monday, July 11th. They issued an “overweight” rating and a $101.00 price objective for the company. Roth Capital reaffirmed a “hold” rating on shares of Diamondback Energy in a research report on Tuesday, July 12th. Finally, Bank of America Corp. initiated coverage on shares of Diamondback Energy in a research report on Wednesday, July 13th. They issued a “neutral” rating and a $106.00 price objective for the company.

Shares of Diamondback Energy (NASDAQ:FANG) opened at 100.90 on Friday. The company has a 50-day moving average of $94.88 and a 200 day moving average of $89.69. Diamondback Energy has a 52-week low of $55.48 and a 52-week high of $106.84. The stock’s market cap is $7.87 billion.

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

In related news, COO Michael L. Hollis sold 1,000 shares of Diamondback Energy stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael L. Hollis sold 10,000 shares of Diamondback Energy stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $104.00, for a total value of $1,040,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. Miles Capital Inc. boosted its position in shares of 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 in the last quarter. Creative Planning boosted its position in shares of 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 in the last quarter. IBM Retirement Fund boosted its position in shares of 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 in the last quarter. Fifth Third Bancorp boosted its position in shares of 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 in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of 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 in the last quarter. 99.74% of the stock is currently owned by hedge funds and other institutional investors.

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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