Diamondback Energy Inc (FANG) Given Average Rating of “Buy” by Brokerages

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Shares of Diamondback Energy Inc (NASDAQ:FANG) have been given a consensus rating of “Buy” by the twenty-nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and twenty-five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $146.92.

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $156.00 to $153.00 and set an “overweight” rating for the company in a research report on Tuesday, May 22nd. Williams Capital restated a “hold” rating and set a $134.00 price target on shares of Diamondback Energy in a research report on Wednesday, May 9th. BidaskClub upgraded shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 19th. Susquehanna Bancshares assumed coverage on shares of Diamondback Energy in a research report on Wednesday, July 11th. They set a “positive” rating and a $164.00 price target for the company. Finally, ValuEngine upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, March 27th.

Shares of FANG stock traded down $1.49 during mid-day trading on Friday, hitting $130.60. 13,135 shares of the stock were exchanged, compared to its average volume of 1,210,950. Diamondback Energy has a 52-week low of $85.73 and a 52-week high of $138.25. The company has a quick ratio of 0.52, a current ratio of 0.53 and a debt-to-equity ratio of 0.30. The firm has a market cap of $12.88 billion, a P/E ratio of 24.70, a PEG ratio of 0.72 and a beta of 0.73.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.05. Diamondback Energy had a net margin of 35.09% and a return on equity of 10.53%. The firm had revenue of $480.20 million during the quarter, compared to the consensus estimate of $445.78 million. During the same quarter in the prior year, the firm earned $1.04 EPS. The company’s revenue for the quarter was up 104.1% on a year-over-year basis. analysts anticipate that Diamondback Energy will post 6.75 earnings per share for the current fiscal year.

In other Diamondback Energy news, insider Michael L. Hollis sold 5,000 shares of the stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $128.85, for a total value of $644,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $137.00, for a total transaction of $274,000.00. Following the completion of the sale, the vice president now owns 91,532 shares of the company’s stock, valued at approximately $12,539,884. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,332 shares of company stock valued at $1,367,579. 0.57% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Next Century Growth Investors LLC acquired a new stake in Diamondback Energy in the 1st quarter valued at about $121,000. ClariVest Asset Management LLC raised its holdings in Diamondback Energy by 14,557.1% in the 1st quarter. ClariVest Asset Management LLC now owns 1,026 shares of the oil and natural gas company’s stock valued at $130,000 after acquiring an additional 1,019 shares during the last quarter. Signaturefd LLC acquired a new stake in Diamondback Energy in the 1st quarter valued at about $132,000. Zions Bancorporation acquired a new stake in Diamondback Energy in the 1st quarter valued at about $136,000. Finally, Global X Management Co. LLC raised its holdings in Diamondback Energy by 57.5% in the 1st quarter. Global X Management Co. LLC now owns 1,320 shares of the oil and natural gas company’s stock valued at $167,000 after acquiring an additional 482 shares during the last quarter.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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