Diamondback Energy (FANG) PT Set at $170.00 by Imperial Capital

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Diamondback Energy (NASDAQ:FANG) received a $170.00 target price from equities research analysts at Imperial Capital in a research note issued on Thursday, Marketbeat reports. The brokerage presently has an “outperform” rating on the oil and natural gas company’s stock. Imperial Capital’s price objective would indicate a potential upside of 41.45% from the stock’s current price. Imperial Capital also issued estimates for Diamondback Energy’s FY2019 earnings at $11.01 EPS.

A number of other research analysts have also weighed in on FANG. Raymond James reaffirmed a “buy” rating and issued a $166.00 price target on shares of Diamondback Energy in a research note on Monday, August 13th. Capital One Financial reaffirmed an “overweight” rating on shares of Diamondback Energy in a research note on Wednesday, August 8th. TD Securities set a $175.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Saturday, August 11th. Stifel Nicolaus set a $166.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Wednesday, August 15th. Finally, Williams Capital reaffirmed a “hold” rating and issued a $134.00 price target on shares of Diamondback Energy in a research note on Wednesday, May 9th. Five investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Diamondback Energy presently has a consensus rating of “Buy” and an average target price of $152.07.

Diamondback Energy stock opened at $120.18 on Thursday. Diamondback Energy has a fifty-two week low of $85.73 and a fifty-two week high of $138.25. The company has a market cap of $13.29 billion, a P/E ratio of 22.68, a PEG ratio of 0.66 and a beta of 0.62. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.54.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.05). Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. The firm had revenue of $526.30 million for the quarter, compared to the consensus estimate of $479.57 million. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue was up 95.4% compared to the same quarter last year. analysts expect that Diamondback Energy will post 6.76 EPS for the current fiscal year.

In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 832 shares of the company’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $128.46, for a total value of $106,878.72. Following the transaction, the vice president now directly owns 6,897 shares in the company, valued at $885,988.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael L. Hollis sold 5,000 shares of the company’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $128.85, for a total transaction of $644,250.00. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Diamondback Energy by 0.6% in the first quarter. JPMorgan Chase & Co. now owns 5,707,256 shares of the oil and natural gas company’s stock valued at $722,082,000 after purchasing an additional 34,532 shares during the last quarter. BlackRock Inc. boosted its position in shares of Diamondback Energy by 5.5% in the first quarter. BlackRock Inc. now owns 4,993,647 shares of the oil and natural gas company’s stock valued at $631,797,000 after acquiring an additional 261,658 shares during the period. Van ECK Associates Corp boosted its position in shares of Diamondback Energy by 1.9% in the second quarter. Van ECK Associates Corp now owns 1,594,112 shares of the oil and natural gas company’s stock valued at $209,737,000 after acquiring an additional 29,280 shares during the period. Bank of America Corp DE boosted its position in shares of Diamondback Energy by 40.4% in the second quarter. Bank of America Corp DE now owns 926,005 shares of the oil and natural gas company’s stock valued at $121,835,000 after acquiring an additional 266,321 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Diamondback Energy by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 733,515 shares of the oil and natural gas company’s stock valued at $96,505,000 after acquiring an additional 109,099 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

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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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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