Diamondback Energy (NASDAQ:FANG) Price Target Raised to $195.00

Diamondback Energy (NASDAQ:FANG) had its target price upped by equities researchers at JPMorgan Chase & Co. from $191.00 to $195.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and natural gas company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 8.31% from the company’s current price.

Several other research firms also recently weighed in on FANG. Citigroup began coverage on Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price objective on the stock. Susquehanna cut their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. KeyCorp cut their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

Diamondback Energy Price Performance

Shares of FANG traded up $0.92 during midday trading on Friday, hitting $180.04. The company’s stock had a trading volume of 928,691 shares, compared to its average volume of 1,921,168. Diamondback Energy has a one year low of $147.93 and a one year high of $214.50. The company’s fifty day simple moving average is $170.68 and its two-hundred day simple moving average is $183.43. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $52.57 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business earned $5.49 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts expect that Diamondback Energy will post 16.08 earnings per share for the current fiscal year.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Carolinas Wealth Consulting LLC grew its holdings in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. UMB Bank n.a. grew its holdings in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the period. Values First Advisors Inc. bought a new position in Diamondback Energy during the third quarter valued at $42,000. CVA Family Office LLC boosted its holdings in shares of Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 65 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after acquiring an additional 136 shares during the period. 90.01% of the stock is owned by institutional investors.

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.