Diamondback Energy, Inc. (NASDAQ:FANG) had its price objective raised by research analysts at Barclays PLC from $105.00 to $121.00 in a research report issued to clients and investors on Wednesday. The firm currently has an “equal weight” rating on the oil and natural gas company’s stock. Barclays PLC’s price objective points to a potential upside of 19.66% from the stock’s current price.

FANG has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub raised shares of Diamondback Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Northland Securities reaffirmed a “buy” rating and issued a $125.00 price target on shares of Diamondback Energy in a report on Tuesday, September 26th. Jefferies Group LLC initiated coverage on shares of Diamondback Energy in a report on Monday. They issued a “buy” rating and a $124.00 price target for the company. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $100.00 price target on shares of Diamondback Energy in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $121.09.

Shares of Diamondback Energy (NASDAQ FANG) opened at 101.12 on Wednesday. Diamondback Energy has a 52 week low of $82.77 and a 52 week high of $114.00. The firm’s 50-day moving average price is $94.86 and its 200 day moving average price is $95.17. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 27.80 and a beta of 1.08.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The firm had revenue of $267.40 million during the quarter, compared to the consensus estimate of $258.75 million. During the same quarter last year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was up 137.7% compared to the same quarter last year. On average, equities research analysts forecast that Diamondback Energy will post $4.96 EPS for the current year.

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In related news, insider Michael L. Hollis sold 1,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $100.00, for a total transaction of $100,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Hof Matthew Kaes Van’t sold 650 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total transaction of $57,518.50. Following the transaction, the vice president now directly owns 4,950 shares in the company, valued at $438,025.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,805 shares of company stock worth $1,129,501. Corporate insiders own 0.41% of the company’s stock.

A number of hedge funds have recently modified their holdings of FANG. BlackRock Inc. increased its holdings in Diamondback Energy by 5,554.4% during the first quarter. BlackRock Inc. now owns 4,707,194 shares of the oil and natural gas company’s stock valued at $488,205,000 after buying an additional 4,623,946 shares during the period. Warburg Pincus LLC increased its holdings in Diamondback Energy by 132.4% during the second quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock valued at $580,188,000 after buying an additional 3,721,519 shares during the period. Artisan Partners Limited Partnership increased its holdings in Diamondback Energy by 964.6% during the second quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock valued at $164,114,000 after buying an additional 1,674,336 shares during the period. JPMorgan Chase & Co. increased its holdings in Diamondback Energy by 20.1% during the second quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock valued at $677,951,000 after buying an additional 1,278,802 shares during the period. Finally, Capital World Investors increased its holdings in Diamondback Energy by 98.1% during the second quarter. Capital World Investors now owns 2,516,497 shares of the oil and natural gas company’s stock valued at $223,490,000 after buying an additional 1,246,072 shares during the period.

Diamondback Energy Company Profile

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.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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