Morgan Stanley Trims Diamondback Energy (NASDAQ:FANG) Target Price to $143.00

Diamondback Energy (NASDAQ:FANG) had its price objective decreased by Morgan Stanley from $151.00 to $143.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the oil and natural gas company’s stock.

A number of other research analysts also recently weighed in on FANG. MKM Partners began coverage on shares of Diamondback Energy in a research report on Friday, June 28th. They issued a buy rating for the company. TD Securities increased their price target on shares of Diamondback Energy from $155.00 to $160.00 and gave the company an action list buy rating in a research note on Thursday, June 20th. KeyCorp cut shares of Cray from a sector weight rating to a sector weight rating and set a $30.00 price target for the company. in a research note on Thursday, May 23rd. Credit Suisse Group set a €21.78 ($25.33) price target on shares of Deutsche Lufthansa and gave the company a buy rating in a research note on Monday, June 17th. Finally, Bank of America reiterated an underperform rating and issued a GBX 55 ($0.72) price target on shares of Lloyds Banking Group in a research note on Tuesday, May 21st. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $158.48.

Diamondback Energy stock opened at $106.41 on Friday. The company has a market capitalization of $18.25 billion, a P/E ratio of 18.91, a P/E/G ratio of 0.68 and a beta of 0.85. Diamondback Energy has a 1-year low of $85.19 and a 1-year high of $140.78. The company has a fifty day simple moving average of $104.03. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 0.32.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $864.00 million during the quarter, compared to the consensus estimate of $893.16 million. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The firm’s revenue for the quarter was up 80.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 earnings per share. As a group, analysts predict that Diamondback Energy will post 7.95 earnings per share for the current fiscal year.

In other news, VP Russell Pantermuehl sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $107.28, for a total transaction of $536,400.00. Following the completion of the sale, the vice president now owns 112,107 shares in the company, valued at approximately $12,026,838.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $107.47, for a total transaction of $161,205.00. Following the sale, the chief financial officer now owns 27,465 shares of the company’s stock, valued at approximately $2,951,663.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,500 shares of company stock valued at $1,258,505. 0.47% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of FANG. Ranger Investment Management L.P. acquired a new stake in Diamondback Energy in the 4th quarter worth about $25,000. Berman Capital Advisors LLC raised its stake in Diamondback Energy by 180.8% in the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 188 shares in the last quarter. Manchester Capital Management LLC acquired a new stake in Diamondback Energy in the 1st quarter worth about $34,000. Bronfman E.L. Rothschild L.P. raised its stake in Diamondback Energy by 136.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 400 shares of the oil and natural gas company’s stock worth $37,000 after purchasing an additional 231 shares in the last quarter. Finally, Somerset Trust Co raised its stake in Diamondback Energy by 162.6% in the 1st quarter. Somerset Trust Co now owns 617 shares of the oil and natural gas company’s stock worth $63,000 after purchasing an additional 382 shares in the last quarter. Institutional investors and hedge funds own 99.10% 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 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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