Diamondback Energy Inc. (FANG) Receives Buy Rating from Mizuho
FANG has been the topic of several other research reports. Stephens upgraded Diamondback Energy from an equal weight rating to an overweight rating in a report on Monday. Canaccord Genuity upgraded Diamondback Energy from a hold rating to a buy rating and set a $100.00 price objective on the stock in a report on Wednesday, July 20th. Nomura restated a buy rating and set a $17.00 price objective on shares of Diamondback Energy in a report on Monday, September 26th. Deutsche Bank AG restated a buy rating and set a $104.00 price objective on shares of Diamondback Energy in a report on Thursday, August 4th. Finally, Raymond James Financial Inc. reiterated an outperform rating and issued a $117.00 target price (up previously from $104.00) on shares of Diamondback Energy in a report on Thursday, October 13th. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Diamondback Energy presently has an average rating of Buy and an average target price of $99.86.
Diamondback Energy (NASDAQ:FANG) traded up 1.34% during midday trading on Monday, hitting $101.82. The company had a trading volume of 103,251 shares. Diamondback Energy has a 52-week low of $55.48 and a 52-week high of $106.84. The firm’s market cap is $7.95 billion. The stock has a 50 day moving average of $94.99 and a 200 day moving average of $90.03.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.10. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The business had revenue of $112.48 million for the quarter, compared to analysts’ expectations of $112.47 million. During the same quarter last year, the firm earned $0.41 earnings per share. The business’s revenue was down 5.5% on a year-over-year basis. On average, analysts anticipate that Diamondback Energy will post $1.00 EPS for the current year.
In other news, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Teresa L. Dick sold 1,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $95.71, for a total transaction of $95,710.00. Following the sale, the chief financial officer now directly owns 25,750 shares in the company, valued at $2,464,532.50. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Winslow Capital Management LLC bought a new stake in Diamondback Energy during the second quarter valued at approximately $255,580,000. FMR LLC boosted its stake in Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock valued at $773,449,000 after buying an additional 665,001 shares during the period. Fiera Capital Corp bought a new stake in Diamondback Energy during the second quarter valued at approximately $41,604,000. Magnetar Financial LLC boosted its stake in Diamondback Energy by 87.2% in the first quarter. Magnetar Financial LLC now owns 748,600 shares of the company’s stock valued at $57,777,000 after buying an additional 348,600 shares during the period. Finally, Boston Partners boosted its stake in Diamondback Energy by 4.4% in the second quarter. Boston Partners now owns 7,138,560 shares of the company’s stock valued at $651,109,000 after buying an additional 303,405 shares during the period. 99.74% of the stock is currently owned by institutional investors and hedge funds.
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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