Diamondback Energy (NASDAQ:FANG) Price Target Increased to $86.00 by Analysts at UBS Group

Diamondback Energy (NASDAQ:FANG) had its price target increased by stock analysts at UBS Group from $47.00 to $86.00 in a report released on Monday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the oil and natural gas company’s stock. UBS Group’s target price points to a potential upside of 105.64% from the stock’s current price.

FANG has been the topic of a number of other reports. Royal Bank of Canada restated a “buy” rating on shares of Diamondback Energy in a research note on Thursday, April 30th. Imperial Capital raised their price target on Diamondback Energy from $55.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 10th. Stephens restated a “buy” rating and issued a $44.00 price target on shares of Diamondback Energy in a research note on Friday, March 20th. BidaskClub downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Mizuho lifted their target price on Diamondback Energy from $61.00 to $62.00 in a research report on Friday, June 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $70.78.

FANG stock opened at $41.82 on Monday. The company has a market cap of $6.54 billion, a P/E ratio of -107.23, a price-to-earnings-growth ratio of 0.78 and a beta of 2.21. Diamondback Energy has a 1 year low of $14.55 and a 1 year high of $111.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.93. The stock’s fifty day moving average price is $44.90 and its 200-day moving average price is $56.49.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $1.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.16. The firm had revenue of $899.00 million for the quarter, compared to the consensus estimate of $968.57 million. Diamondback Energy had a positive return on equity of 7.03% and a negative net margin of 1.05%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS. As a group, analysts expect that Diamondback Energy will post 2.41 earnings per share for the current year.

In other news, CFO Hof Matthew Kaes Van’t purchased 1,800 shares of the stock in a transaction that occurred on Friday, June 19th. The stock was purchased at an average price of $46.92 per share, for a total transaction of $84,456.00. Following the completion of the acquisition, the chief financial officer now owns 53,930 shares of the company’s stock, valued at $2,530,395.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. State Street Corp raised its stake in Diamondback Energy by 10.1% in the first quarter. State Street Corp now owns 9,249,613 shares of the oil and natural gas company’s stock worth $242,340,000 after buying an additional 848,568 shares in the last quarter. AXA raised its stake in Diamondback Energy by 9.6% in the first quarter. AXA now owns 163,473 shares of the oil and natural gas company’s stock worth $4,283,000 after buying an additional 14,322 shares in the last quarter. State of Tennessee Treasury Department raised its stake in Diamondback Energy by 256.0% in the first quarter. State of Tennessee Treasury Department now owns 323,144 shares of the oil and natural gas company’s stock worth $8,467,000 after buying an additional 232,378 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Diamondback Energy by 6.4% in the first quarter. The Manufacturers Life Insurance Company now owns 283,308 shares of the oil and natural gas company’s stock worth $7,422,000 after buying an additional 17,005 shares in the last quarter. Finally, Phoenix Holdings Ltd. raised its stake in Diamondback Energy by 6.7% in the first quarter. Phoenix Holdings Ltd. now owns 320,000 shares of the oil and natural gas company’s stock worth $8,189,000 after buying an additional 20,000 shares in the last quarter. 96.25% of the stock is owned by 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.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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