Diamondback Energy (FANG) PT Set at $171.00 by Morgan Stanley

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Morgan Stanley set a $171.00 price objective on Diamondback Energy (NASDAQ:FANG) in a research report report published on Friday morning. The firm currently has a buy rating on the oil and natural gas company’s stock.

A number of other equities analysts have also weighed in on FANG. ValuEngine lowered Diamondback Energy from a buy rating to a hold rating in a research note on Friday. BidaskClub upgraded Diamondback Energy from a buy rating to a strong-buy rating in a research note on Friday, October 5th. Williams Capital set a $165.00 target price on Diamondback Energy and gave the stock a hold rating in a research note on Wednesday, August 15th. Oppenheimer began coverage on Diamondback Energy in a research note on Wednesday, October 3rd. They issued an outperform rating and a $166.00 target price on the stock. Finally, BMO Capital Markets lowered Diamondback Energy from an outperform rating to a market perform rating and set a $150.00 target price on the stock. in a research note on Wednesday, August 15th. Four research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $154.83.

NASDAQ FANG traded up $1.49 during trading on Friday, reaching $126.12. The company’s stock had a trading volume of 1,604,792 shares, compared to its average volume of 1,644,915. The firm has a market capitalization of $13.33 billion, a P/E ratio of 23.80, a P/E/G ratio of 0.81 and a beta of 0.59. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.33. Diamondback Energy has a one year low of $98.57 and a one year high of $140.78.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). The business had revenue of $526.30 million during the quarter, compared to the consensus estimate of $479.57 million. Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. Diamondback Energy’s revenue was up 95.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 earnings per share. As a group, research analysts anticipate that Diamondback Energy will post 6.37 EPS for the current fiscal year.

In other news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total transaction of $255,600.00. Following the transaction, the vice president now directly owns 89,532 shares in the company, valued at approximately $11,442,189.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 7,140 shares of company stock worth $916,735 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

Several institutional investors have recently made changes to their positions in FANG. Investec Asset Management LTD bought a new position in Diamondback Energy during the 2nd quarter worth approximately $8,378,000. Hartline Investment Corp grew its position in Diamondback Energy by 28.0% during the 2nd quarter. Hartline Investment Corp now owns 19,329 shares of the oil and natural gas company’s stock worth $2,543,000 after acquiring an additional 4,233 shares during the last quarter. Van ECK Associates Corp grew its position in Diamondback Energy by 1.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,594,112 shares of the oil and natural gas company’s stock worth $209,737,000 after acquiring an additional 29,280 shares during the last quarter. Cozad Asset Management Inc. bought a new position in Diamondback Energy during the 2nd quarter worth approximately $3,949,000. Finally, Marietta Investment Partners LLC grew its position in Diamondback Energy by 1.0% during the 2nd quarter. Marietta Investment Partners LLC now owns 64,307 shares of the oil and natural gas company’s stock worth $8,461,000 after acquiring an additional 618 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.

Read More: Initial Public Offering (IPO)

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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