Analysts at Credit Suisse Group started coverage on shares of Diamondback Energy (NASDAQ:FANG) in a report released on Monday. The firm set an “outperform” rating and a $123.00 price target on the oil and natural gas company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 10.51% from the stock’s previous close.

Several other equities analysts have also weighed in on FANG. BidaskClub lowered Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Northland Securities set a $125.00 price target on Diamondback Energy and gave the company a “buy” rating in a research note on Monday, August 21st. KeyCorp restated a “buy” rating and issued a $113.00 price target on shares of Diamondback Energy in a research note on Wednesday, September 6th. Piper Jaffray Companies restated a “buy” rating and issued a $112.00 price target on shares of Diamondback Energy in a research note on Thursday, September 14th. Finally, Williams Capital restated a “hold” rating and issued a $110.00 price target (up previously from $105.00) on shares of Diamondback Energy in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $125.56.

Shares of Diamondback Energy (FANG) traded up $0.53 during trading on Monday, hitting $111.30. The company had a trading volume of 905,600 shares, compared to its average volume of 1,338,067. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $114.93. The stock has a market cap of $10,873.99, a price-to-earnings ratio of 23.72, a PEG ratio of 0.80 and a beta of 1.09.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The firm had revenue of $301.30 million during the quarter, compared to analyst estimates of $296.53 million. During the same quarter in the previous year, the business earned ($0.03) EPS. Diamondback Energy’s revenue for the quarter was up 112.0% compared to the same quarter last year. sell-side analysts anticipate that Diamondback Energy will post 5.02 earnings per share for the current fiscal year.

In other news, VP Paul Molnar sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total transaction of $475,200.00. Following the transaction, the vice president now directly owns 42,563 shares in the company, valued at approximately $4,045,187.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Russell Pantermuehl sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $96.89, for a total value of $387,560.00. Following the transaction, the vice president now owns 70,214 shares in the company, valued at $6,803,034.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,400 shares of company stock valued at $2,753,230. 0.41% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Viking Fund Management LLC boosted its holdings in shares of Diamondback Energy by 6.3% during the 3rd quarter. Viking Fund Management LLC now owns 220,000 shares of the oil and natural gas company’s stock worth $21,551,000 after purchasing an additional 13,000 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Diamondback Energy by 964.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock worth $164,114,000 after purchasing an additional 1,674,336 shares during the last quarter. IBM Retirement Fund acquired a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $960,000. Gluskin Sheff & Assoc Inc. boosted its holdings in shares of Diamondback Energy by 221.5% during the 3rd quarter. Gluskin Sheff & Assoc Inc. now owns 13,150 shares of the oil and natural gas company’s stock worth $1,288,000 after purchasing an additional 9,060 shares during the last quarter. Finally, Braun Stacey Associates Inc. acquired a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $12,328,000.

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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.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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