Brokerages Set Diamondback Energy Inc (FANG) Target Price at $137.25

Diamondback Energy Inc (NASDAQ:FANG) has received an average rating of “Buy” from the twenty-eight analysts that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $137.25.

A number of brokerages have weighed in on FANG. Northland Securities set a $140.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a report on Wednesday, February 14th. Williams Capital set a $137.00 price target on shares of Diamondback Energy and gave the company a “hold” rating in a report on Wednesday, February 14th. BidaskClub lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Stephens reiterated a “buy” rating and issued a $159.00 price target on shares of Diamondback Energy in a report on Friday, February 16th. Finally, SunTrust Banks set a $165.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a report on Wednesday, February 14th.

In related news, insider Michael L. Hollis sold 3,000 shares of Diamondback Energy stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total transaction of $388,020.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Teresa L. Dick sold 1,000 shares of Diamondback Energy stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $112.13, for a total transaction of $112,130.00. Following the sale, the chief financial officer now directly owns 30,760 shares in the company, valued at approximately $3,449,118.80. The disclosure for this sale can be found here. Insiders have sold a total of 192,211 shares of company stock worth $23,839,659 in the last 90 days. Company insiders own 0.41% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in FANG. Janus Henderson Group PLC increased its stake in Diamondback Energy by 19.6% during the 2nd quarter. Janus Henderson Group PLC now owns 10,372 shares of the oil and natural gas company’s stock worth $921,000 after buying an additional 1,700 shares during the period. Cubist Systematic Strategies LLC increased its stake 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 worth $195,000 after buying an additional 700 shares during the period. The Manufacturers Life Insurance Company increased its stake in Diamondback Energy by 79.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,009 shares of the oil and natural gas company’s stock worth $534,000 after buying an additional 2,659 shares during the period. Sentry Investment Management LLC purchased a new stake in Diamondback Energy during the 2nd quarter worth $215,000. Finally, Viking Fund Management LLC increased its stake in 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 buying an additional 13,000 shares during the period.

Shares of Diamondback Energy (NASDAQ FANG) traded up $2.33 during midday trading on Tuesday, reaching $123.31. 1,142,600 shares of the company were exchanged, compared to its average volume of 1,391,538. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $134.52. The firm has a market capitalization of $12,230.00, a price-to-earnings ratio of 25.18, a P/E/G ratio of 0.67 and a beta of 0.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.61 and a current ratio of 0.62.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.16. The firm had revenue of $399.19 million for the quarter, compared to analyst estimates of $370.74 million. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.63%. analysts anticipate that Diamondback Energy will post 6.97 EPS for the current fiscal year.

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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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