Diamondback Energy Inc (FANG) Receives $156.79 Consensus PT from Analysts

Shares of Diamondback Energy Inc (NASDAQ:FANG) have received a consensus recommendation of “Buy” from the thirty-three ratings firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, twenty-eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $156.79.

A number of brokerages have issued reports on FANG. Raymond James reissued a “buy” rating and set a $166.00 target price on shares of Diamondback Energy in a research note on Monday, August 13th. BMO Capital Markets reissued a “hold” rating and set a $135.00 target price on shares of Diamondback Energy in a research note on Friday, August 17th. Imperial Capital lifted their target price on shares of Diamondback Energy from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. Capital One Financial reissued an “overweight” rating on shares of Diamondback Energy in a research note on Wednesday, August 8th. Finally, TD Securities set a $175.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Saturday, August 11th.

Shares of NASDAQ:FANG opened at $109.88 on Friday. The firm has a market cap of $11.23 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 0.71 and a beta of 0.59. Diamondback Energy has a 12-month low of $105.56 and a 12-month high of $140.78. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.54 and a quick ratio of 0.52.



Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). The company had revenue of $526.30 million for 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 10.56%. The company’s quarterly revenue was up 95.4% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. Equities analysts forecast that Diamondback Energy will post 6.48 EPS for the current fiscal year.

In related news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total value of $255,600.00. Following the completion of the sale, the vice president now owns 89,532 shares of the company’s stock, valued at approximately $11,442,189.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Hawaiian Bank bought a new position in Diamondback Energy in the 3rd quarter worth $121,000. Captrust Financial Advisors raised its holdings in Diamondback Energy by 99.8% in the 2nd quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock worth $131,000 after acquiring an additional 497 shares during the period. Mount Yale Investment Advisors LLC bought a new position in Diamondback Energy in the 1st quarter worth $187,000. Wedbush Securities Inc. bought a new position in Diamondback Energy in the 2nd quarter worth $201,000. Finally, Ingalls & Snyder LLC bought a new position in Diamondback Energy in the 3rd quarter worth $212,000.

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.

See Also: Intrinsic Value and Stock Selection

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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