Raymond James Boosts Diamondback Energy (NASDAQ:FANG) Price Target to $125.00

Share on StockTwits

Diamondback Energy (NASDAQ:FANG) had its price target boosted by stock analysts at Raymond James from $110.00 to $125.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage currently has a “strong-buy” rating on the oil and natural gas company’s stock. Raymond James’ price target suggests a potential upside of 50.96% from the stock’s previous close.

Several other equities analysts have also commented on FANG. Johnson Rice lowered Diamondback Energy from a “buy” rating to an “accumulate” rating in a research note on Tuesday, November 19th. Northland Securities reaffirmed a “buy” rating and issued a $130.00 price target on shares of Diamondback Energy in a research note on Wednesday, November 6th. Barclays decreased their target price on Diamondback Energy from $189.00 to $125.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Roth Capital increased their target price on Diamondback Energy from $140.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Credit Suisse Group reissued a “buy” rating and set a $116.00 target price on shares of Diamondback Energy in a research note on Thursday, November 28th. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Diamondback Energy currently has a consensus rating of “Buy” and a consensus price target of $134.52.

Shares of Diamondback Energy stock traded down $1.89 during trading hours on Friday, hitting $82.81. The company’s stock had a trading volume of 132,784 shares, compared to its average volume of 1,646,637. Diamondback Energy has a twelve month low of $73.18 and a twelve month high of $114.14. The firm has a fifty day moving average of $89.15 and a 200-day moving average of $90.93. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 0.74 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.68 and a current ratio of 0.72.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.24). Diamondback Energy had a net margin of 29.59% and a return on equity of 6.01%. The business had revenue of $975.00 million during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company earned $1.67 EPS. The business’s revenue for the quarter was up 81.6% on a year-over-year basis. On average, sell-side analysts expect that Diamondback Energy will post 6.37 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC increased its holdings in Diamondback Energy by 4,118.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 464 shares of the oil and natural gas company’s stock worth $41,000 after purchasing an additional 453 shares during the period. Evoke Wealth LLC purchased a new position in shares of Diamondback Energy in the 3rd quarter valued at about $45,000. Baystate Wealth Management LLC increased its holdings in shares of Diamondback Energy by 10,766.7% in the 4th quarter. Baystate Wealth Management LLC now owns 652 shares of the oil and natural gas company’s stock valued at $61,000 after acquiring an additional 646 shares during the last quarter. Huntington National Bank increased its holdings in shares of Diamondback Energy by 1,243.1% in the 4th quarter. Huntington National Bank now owns 685 shares of the oil and natural gas company’s stock valued at $64,000 after acquiring an additional 634 shares during the last quarter. Finally, Quad Cities Investment Group LLC purchased a new position in shares of Diamondback Energy in the 3rd quarter valued at about $66,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

Featured Article: What are some reasons analysts would give stocks a buy rating?

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.