BMO Capital Markets Analysts Give Diamondback Energy, Inc. (FANG) a $110.00 Price Target
Diamondback Energy, Inc. (NASDAQ:FANG) has been assigned a $110.00 price objective by equities research analysts at BMO Capital Markets in a research report issued on Tuesday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 9.17% from the company’s previous close.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research note on Monday. Jefferies Group LLC assumed coverage on shares of Diamondback Energy in a research note on Monday. They issued a “buy” rating and a $124.00 price objective on the stock. Stifel Nicolaus set a $129.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. US Capital Advisors reaffirmed a “buy” rating on shares of Diamondback Energy in a research note on Monday, October 2nd. Finally, Williams Capital reaffirmed a “hold” rating and issued a $110.00 price objective (up previously from $105.00) on shares of Diamondback Energy in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $120.39.
Diamondback Energy (FANG) opened at 100.76 on Tuesday. The company’s 50-day moving average is $94.11 and its 200 day moving average is $95.08. The stock has a market capitalization of $9.89 billion, a PE ratio of 27.70 and a beta of 1.08. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $114.00.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.44. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The company had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. During the same period in the previous year, the firm earned $0.26 EPS. Diamondback Energy’s revenue was up 137.7% on a year-over-year basis. On average, analysts predict that Diamondback Energy will post $4.94 EPS for the current year.
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In other news, insider Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $100.00, for a total value of $100,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Russell Pantermuehl sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $96.89, for a total transaction of $387,560.00. Following the completion of the sale, the vice president now owns 70,214 shares of the company’s stock, valued at $6,803,034.46. The disclosure for this sale can be found here. Insiders sold 11,805 shares of company stock valued at $1,129,501 over the last quarter. Corporate insiders own 0.41% of the company’s stock.
Several institutional investors have recently modified their holdings of FANG. Johnson Financial Group Inc. acquired a new stake in shares of Diamondback Energy in the second quarter worth $102,000. Cubist Systematic Strategies LLC lifted its stake in shares of Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after buying an additional 700 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in shares of Diamondback Energy in the second quarter worth $215,000. BB&T Securities LLC acquired a new stake in shares of Diamondback Energy in the second quarter worth $217,000. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Diamondback Energy by 1.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock worth $224,000 after buying an additional 40 shares during the last quarter.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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