TD Securities Analysts Give Diamondback Energy (FANG) a $175.00 Price Target

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Diamondback Energy (NASDAQ:FANG) has been assigned a $175.00 price target by stock analysts at TD Securities in a research report issued on Saturday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. TD Securities’ target price would indicate a potential upside of 29.82% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Diamondback Energy from $161.00 to $163.00 and gave the company an “overweight” rating in a research note on Thursday, May 24th. Williams Capital reiterated a “hold” rating and issued a $134.00 target price on shares of Diamondback Energy in a research note on Wednesday, May 9th. Jefferies Financial Group set a $181.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Friday, July 13th. BidaskClub upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 20th. Finally, KeyCorp lifted their target price on shares of Diamondback Energy from $137.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, April 23rd. Three investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Diamondback Energy presently has an average rating of “Buy” and a consensus price target of $149.88.

Shares of Diamondback Energy opened at $134.80 on Friday, according to MarketBeat.com. Diamondback Energy has a 52 week low of $85.73 and a 52 week high of $138.25. The company has a market cap of $12.93 billion, a P/E ratio of 25.43, a P/E/G ratio of 0.72 and a beta of 0.62. The company has a current ratio of 0.53, a quick ratio of 0.52 and a debt-to-equity ratio of 0.30.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.64 by ($0.05). The business had revenue of $526.30 million during the quarter, compared to analyst estimates of $479.57 million. Diamondback Energy had a net margin of 33.37% and a return on equity of 10.73%. Diamondback Energy’s revenue was up 95.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. equities research analysts predict that Diamondback Energy will post 6.76 EPS for the current year.

In related news, VP Russell Pantermuehl sold 2,000 shares of the company’s stock in a transaction on 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 transaction, the vice president now directly owns 91,532 shares in the company, valued at approximately $12,539,884. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Hof Matthew Kaes Van’t sold 832 shares of the company’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $128.46, for a total transaction of $106,878.72. Following the transaction, the vice president now owns 6,897 shares of the company’s stock, valued at $885,988.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,332 shares of company stock valued at $1,367,579. Corporate insiders own 0.57% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in Diamondback Energy by 237.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 33,183 shares of the oil and natural gas company’s stock valued at $4,365,000 after purchasing an additional 23,353 shares during the last quarter. Stephens Inc. AR acquired a new position in Diamondback Energy during the 2nd quarter valued at $1,228,000. Commerzbank Aktiengesellschaft FI raised its stake in Diamondback Energy by 23.9% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 112,860 shares of the oil and natural gas company’s stock valued at $14,849,000 after purchasing an additional 21,760 shares during the last quarter. Investec Asset Management LTD acquired a new position in Diamondback Energy during the 2nd quarter valued at $8,378,000. Finally, Federated Investors Inc. PA raised its stake in Diamondback Energy by 6.5% during the 2nd quarter. Federated Investors Inc. PA now owns 18,432 shares of the oil and natural gas company’s stock valued at $2,425,000 after purchasing an additional 1,126 shares during the last quarter.

About Diamondback Energy

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.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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