Imperial Capital Increases Diamondback Energy, Inc. (FANG) Price Target to $130.00
Diamondback Energy, Inc. (NASDAQ:FANG) had its price objective upped by investment analysts at Imperial Capital to $130.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “outperform” rating on the oil and natural gas company’s stock. Imperial Capital’s target price would indicate a potential upside of 17.80% from the company’s previous close.
Several other brokerages have also commented on FANG. BidaskClub lowered Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Roth Capital raised their price objective on Diamondback Energy from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. BMO Capital Markets set a $100.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, August 1st. Northland Securities set a $125.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Monday, July 17th. Finally, Morgan Stanley raised their price objective on Diamondback Energy from $118.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-one have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $123.52.
Diamondback Energy (NASDAQ FANG) opened at $110.36 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $11,156.72, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 0.75 and a beta of 1.10. Diamondback Energy has a 52-week low of $82.77 and a 52-week high of $114.93.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.02 by $0.31. The business had revenue of $301.30 million during the quarter, compared to analyst estimates of $296.53 million. Diamondback Energy had a return on equity of 9.12% and a net margin of 39.69%. The company’s revenue for the quarter was up 112.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) earnings per share. equities research analysts forecast that Diamondback Energy will post 5.08 EPS for the current fiscal year.
In other Diamondback Energy news, VP Paul Molnar sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the transaction, the vice president now directly owns 42,563 shares of the company’s stock, valued at $4,045,187.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Hof Matthew Kaes Van’t sold 650 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $88.49, for a total value of $57,518.50. Following the completion of 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. Insiders sold 14,805 shares of company stock worth $1,449,381 over the last three months. Insiders own 0.41% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Diamondback Energy during the 3rd quarter valued at about $262,000. Columbia Partners L L C Investment Management lifted its position in shares of Diamondback Energy by 20.0% during the 3rd quarter. Columbia Partners L L C Investment Management now owns 23,174 shares of the oil and natural gas company’s stock valued at $2,270,000 after buying an additional 3,858 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Diamondback Energy by 34.1% during the 3rd quarter. Macquarie Group Ltd. now owns 232,215 shares of the oil and natural gas company’s stock valued at $22,747,000 after buying an additional 59,031 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Diamondback Energy by 59.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 580,057 shares of the oil and natural gas company’s stock valued at $56,838,000 after buying an additional 216,867 shares in the last quarter. Finally, 361 Capital LLC lifted its position in shares of Diamondback Energy by 31.5% during the 3rd quarter. 361 Capital LLC now owns 27,403 shares of the oil and natural gas company’s stock valued at $2,684,000 after buying an additional 6,569 shares in the last quarter.
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.
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