Diamondback Energy (NASDAQ:FANG) Rating Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Diamondback Energy (NASDAQ:FANG) from a buy rating to a hold rating in a research report sent to investors on Thursday, BidAskClub reports.

FANG has been the subject of several other reports. Credit Suisse Group set a €21.78 ($25.33) price objective on shares of Deutsche Lufthansa and gave the stock a buy rating in a research note on Monday, June 17th. Williams Capital set a $165.00 price objective on shares of Diamondback Energy and gave the stock a buy rating in a research note on Thursday, May 23rd. Morgan Stanley set a $207.00 price objective on shares of Alibaba Group and gave the stock a buy rating in a research note on Friday, July 12th. Bank of America reiterated an underperform rating and set a GBX 55 ($0.72) price objective on shares of Lloyds Banking Group in a research note on Tuesday, May 21st. Finally, TD Securities lifted their price objective on shares of Diamondback Energy from $155.00 to $160.00 and gave the stock an action list buy rating in a research note on Thursday, June 20th. Three research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $158.71.

NASDAQ:FANG opened at $104.61 on Thursday. Diamondback Energy has a 12 month low of $85.19 and a 12 month high of $140.78. The business’s fifty day moving average is $104.08. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $17.23 billion, a P/E ratio of 17.82, a P/E/G ratio of 0.65 and a beta of 0.85.



Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, May 7th. The oil and natural gas company reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.03. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The business had revenue of $864.00 million during the quarter, compared to the consensus estimate of $893.16 million. During the same period in the previous year, the firm posted $1.64 earnings per share. The business’s revenue for the quarter was up 80.4% compared to the same quarter last year. As a group, research analysts forecast that Diamondback Energy will post 7.8 earnings per share for the current fiscal year.

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 1,500 shares of Diamondback Energy stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.47, for a total value of $161,205.00. Following the completion of the transaction, the chief financial officer now owns 27,465 shares of the company’s stock, valued at $2,951,663.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.28, for a total transaction of $536,400.00. Following the completion of the transaction, the vice president now directly owns 112,107 shares of the company’s stock, valued at approximately $12,026,838.96. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock valued at $1,258,505 in the last ninety days. 0.47% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new position in Diamondback Energy during the second quarter worth about $360,000. First American Bank acquired a new position in Diamondback Energy during the second quarter worth about $1,974,000. Bessemer Group Inc. boosted its position in Diamondback Energy by 43.2% during the second quarter. Bessemer Group Inc. now owns 941,887 shares of the oil and natural gas company’s stock worth $102,638,000 after acquiring an additional 284,343 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Diamondback Energy by 6.7% during the second quarter. Commonwealth Equity Services LLC now owns 17,090 shares of the oil and natural gas company’s stock worth $1,862,000 after acquiring an additional 1,079 shares during the last quarter. Finally, Archford Capital Strategies LLC boosted its position in Diamondback Energy by 1,100.0% during the second quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 220 shares during the last quarter. 99.10% of the stock is owned by institutional investors and hedge funds.

About Diamondback Energy

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.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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