Diamondback Energy (NASDAQ:FANG) had its price target upped by Jefferies Financial Group from $170.00 to $177.00 in a research note published on Tuesday, June 19th, Marketbeat.com reports. They currently have a buy rating on the oil and natural gas company’s stock. Jefferies Financial Group also issued estimates for Diamondback Energy’s Q2 2018 earnings at $1.76 EPS, Q3 2018 earnings at $2.11 EPS, Q4 2018 earnings at $2.43 EPS, FY2018 earnings at $7.94 EPS, Q1 2019 earnings at $2.79 EPS, Q2 2019 earnings at $2.64 EPS, Q3 2019 earnings at $2.52 EPS, Q4 2019 earnings at $3.06 EPS, FY2019 earnings at $11.01 EPS, Q1 2020 earnings at $3.83 EPS and FY2020 earnings at $16.78 EPS.
FANG has been the topic of a number of other research reports. Stifel Nicolaus set a $167.00 price objective on Diamondback Energy and gave the stock a buy rating in a research note on Wednesday, March 28th. BidaskClub raised Diamondback Energy from a hold rating to a buy rating in a research note on Friday, March 30th. ValuEngine raised Diamondback Energy from a hold rating to a buy rating in a research note on Tuesday, May 1st. Piper Jaffray Companies reaffirmed a buy rating and issued a $143.00 price target on shares of Diamondback Energy in a research note on Wednesday, April 18th. Finally, KeyCorp upped their price target on Diamondback Energy from $137.00 to $140.00 and gave the company a buy rating in a research note on Monday, April 23rd. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Diamondback Energy has a consensus rating of Buy and a consensus price target of $143.56.
NASDAQ FANG opened at $131.57 on Tuesday. The firm has a market cap of $12.90 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 0.73 and a beta of 0.74. The company has a current ratio of 0.53, a quick ratio of 0.52 and a debt-to-equity ratio of 0.30. Diamondback Energy has a fifty-two week low of $82.77 and a fifty-two week high of $138.14.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.05. The company had revenue of $480.20 million for the quarter, compared to analyst estimates of $445.78 million. Diamondback Energy had a return on equity of 10.53% and a net margin of 35.09%. The firm’s revenue for the quarter was up 104.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 earnings per share. equities analysts anticipate that Diamondback Energy will post 6.7 EPS for the current year.
In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 832 shares of the company’s stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $128.46, for a total transaction of $106,878.72. Following the sale, the vice president now owns 6,897 shares in the company, valued at approximately $885,988.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Teresa L. Dick sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $136.98, for a total value of $342,450.00. Following the sale, the chief financial officer now owns 26,647 shares in the company, valued at approximately $3,650,106.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,332 shares of company stock worth $1,079,729. 0.57% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Castleark Management LLC boosted its position in shares of Diamondback Energy by 127.1% during the 4th quarter. Castleark Management LLC now owns 113,983 shares of the oil and natural gas company’s stock worth $14,390,000 after acquiring an additional 63,801 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Diamondback Energy by 25.7% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 15,287 shares of the oil and natural gas company’s stock worth $1,930,000 after acquiring an additional 3,126 shares in the last quarter. Ninepoint Partners LP acquired a new position in shares of Diamondback Energy during the 4th quarter worth about $258,000. Shell Asset Management Co. acquired a new position in shares of Diamondback Energy during the 4th quarter worth about $2,910,000. Finally, OppenheimerFunds Inc. boosted its position in shares of Diamondback Energy by 20.3% during the 4th quarter. OppenheimerFunds Inc. now owns 212,848 shares of the oil and natural gas company’s stock worth $26,872,000 after acquiring an additional 35,969 shares in the last quarter.
About Diamondback Energy
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.
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