Diamondback Energy Inc. (NASDAQ:FANG) has received a consensus recommendation of “Buy” from the thirty brokerages that are covering the company. Four equities research analysts have rated the stock with a hold recommendation, twenty-five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $102.19.

Several research analysts have commented on FANG shares. Simmons reaffirmed an “overweight” rating and set a $106.00 target price (up from $101.00) on shares of Diamondback Energy in a report on Tuesday, July 26th. BMO Capital Markets reaffirmed a “buy” rating and set a $95.00 target price on shares of Diamondback Energy in a report on Wednesday, August 3rd. SunTrust Banks Inc. lifted their target price on Diamondback Energy from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Deutsche Bank AG reaffirmed a “buy” rating and set a $104.00 target price on shares of Diamondback Energy in a report on Thursday, August 4th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $108.00 target price on shares of Diamondback Energy in a report on Friday, August 5th.

In other news, COO Michael L. Hollis sold 10,000 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $104.00, for a total transaction of $1,040,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of Diamondback Energy by 12.0% in the first quarter. Geode Capital Management LLC now owns 466,203 shares of the company’s stock worth $35,981,000 after buying an additional 49,821 shares during the last quarter. Columbus Circle Investors increased its stake in shares of Diamondback Energy by 24.1% in the second quarter. Columbus Circle Investors now owns 431,152 shares of the company’s stock worth $39,325,000 after buying an additional 83,777 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Diamondback Energy by 3.2% in the first quarter. Nuveen Asset Management LLC now owns 23,811 shares of the company’s stock worth $1,838,000 after buying an additional 744 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Diamondback Energy by 189.9% in the second quarter. Ameriprise Financial Inc. now owns 152,559 shares of the company’s stock worth $13,916,000 after buying an additional 99,930 shares during the last quarter. Finally, OLD National Bancorp IN increased its stake in shares of Diamondback Energy by 10.0% in the second quarter. OLD National Bancorp IN now owns 6,133 shares of the company’s stock worth $559,000 after buying an additional 559 shares during the last quarter.

Diamondback Energy (NASDAQ:FANG) traded down 0.58% during trading on Friday, reaching $97.35. The company’s stock had a trading volume of 431,771 shares. 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 is $97.09 and its 200-day moving average is $92.30. The firm’s market cap is $7.60 billion.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 7th. The company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.20. The business earned $142.13 million during the quarter, compared to analysts’ expectations of $142.58 million. Diamondback Energy had a positive return on equity of 4.26% and a negative net margin of 82.83%. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. On average, equities research analysts forecast that Diamondback Energy will post $1.33 earnings per share for the current fiscal year.

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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