Diamondback Energy (FANG) Stock Rating Lowered by Zacks Investment Research

Diamondback Energy (NASDAQ:FANG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Diamondback Energy, Inc. is an oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. The Company’s activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations. Diamondback Energy, Inc. is headquartered in Midland, Texas. “

Other analysts have also recently issued research reports about the stock. Piper Jaffray Companies restated a “buy” rating and issued a $138.00 target price on shares of Diamondback Energy in a research note on Tuesday, January 9th. BMO Capital Markets set a $110.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Wells Fargo & Co set a $120.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Mizuho set a $122.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Saturday, November 25th. Finally, Scotiabank restated a “buy” rating and issued a $118.00 target price on shares of Diamondback Energy in a research note on Wednesday, November 22nd. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Diamondback Energy has an average rating of “Buy” and a consensus price target of $127.96.

Diamondback Energy (NASDAQ:FANG) traded up $0.34 during mid-day trading on Thursday, hitting $127.57. 585,348 shares of the stock traded hands, compared to its average volume of 1,075,025. Diamondback Energy has a one year low of $82.77 and a one year high of $132.07. The firm has a market cap of $12,489.82, a PE ratio of 30.89, a PEG ratio of 0.74 and a beta of 1.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.46 and a quick ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The company had revenue of $301.30 million during the quarter, compared to analysts’ expectations of $296.53 million. During the same quarter last year, the business earned ($0.03) EPS. The business’s revenue was up 112.0% on a year-over-year basis. equities research analysts forecast that Diamondback Energy will post 5.09 earnings per share for the current year.

In other Diamondback Energy news, insider Michael L. Hollis sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $105.00, for a total transaction of $210,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Travis D. Stice sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $125.00, for a total transaction of $4,375,000.00. The disclosure for this sale can be found here. Insiders sold a total of 79,400 shares of company stock valued at $9,544,350 in the last quarter. Insiders own 0.41% of the company’s stock.

Large investors have recently bought and sold shares of the business. KCS Wealth Advisory purchased a new position in Diamondback Energy during the 4th quarter valued at about $202,000. Crossmark Global Holdings Inc. purchased a new position in Diamondback Energy during the 3rd quarter valued at about $206,000. Commerce Bank purchased a new position in Diamondback Energy during the 3rd quarter valued at about $208,000. Cubist Systematic Strategies LLC increased its holdings in Diamondback Energy by 46.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after acquiring an additional 700 shares in the last quarter. Finally, Raymond James Trust N.A. purchased a new position in Diamondback Energy during the 3rd quarter valued at about $237,000.

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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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