Diamondback Energy (NASDAQ:FANG) PT Raised to $186.00

Diamondback Energy (NASDAQ:FANG) had its price objective upped by investment analysts at Morgan Stanley from $177.00 to $186.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s price objective points to a potential downside of 5.98% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Bank of America raised shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $129.00 to $170.00 in a report on Monday, February 12th. Bank Of America (Bofa) decreased their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a report on Thursday, January 18th. Stifel Nicolaus upped their price objective on shares of Diamondback Energy from $192.00 to $224.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets upped their target price on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a research note on Tuesday, February 13th. Finally, Evercore ISI upped their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $190.11.

Diamondback Energy Trading Up 0.7 %

Shares of FANG stock traded up $1.30 during trading hours on Thursday, reaching $197.83. 530,465 shares of the stock traded hands, compared to its average volume of 1,827,237. Diamondback Energy has a 1-year low of $123.41 and a 1-year high of $198.47. The business has a fifty day moving average price of $171.93 and a 200 day moving average price of $161.65. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $35.30 billion, a PE ratio of 11.40 and a beta of 1.92.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.13. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.29 EPS. On average, equities research analysts forecast that Diamondback Energy will post 17.93 EPS for the current year.

Insider Activity at Diamondback Energy

In related news, EVP Matt Zmigrosky sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the completion of the transaction, the executive vice president now directly owns 44,445 shares of the company’s stock, valued at $8,619,663.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at $18,532,416. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.94, for a total transaction of $969,700.00. Following the transaction, the executive vice president now directly owns 44,445 shares of the company’s stock, valued at $8,619,663.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,675 shares of company stock valued at $5,311,096. 0.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of institutional investors have recently modified their holdings of FANG. BKM Wealth Management LLC acquired a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $27,000. Hobbs Group Advisors LLC acquired a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $27,000. BluePath Capital Management LLC bought a new stake in Diamondback Energy in the third quarter valued at approximately $28,000. FinTrust Capital Advisors LLC boosted its holdings in Diamondback Energy by 232.8% in the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock valued at $29,000 after acquiring an additional 149 shares during the last quarter. Finally, Logan Capital Management Inc. bought a new stake in Diamondback Energy in the fourth quarter valued at approximately $31,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It 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.