Diamondback Energy (NASDAQ:FANG) had its target price boosted by analysts at UBS Group from $47.00 to $86.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the oil and natural gas company’s stock. UBS Group’s price target points to a potential upside of 105.64% from the company’s current price.
FANG has been the subject of a number of other research reports. Cfra reduced their price objective on Diamondback Energy from $96.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. KeyCorp raised their price objective on Diamondback Energy from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Piper Sandler cut Diamondback Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $154.00 to $36.00 in a research note on Tuesday, March 24th. Credit Suisse Group reaffirmed an “outperform” rating and set a $52.00 target price on shares of Diamondback Energy in a research report on Thursday, March 19th. Finally, ValuEngine raised Diamondback Energy from a “strong sell” rating to a “sell” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $70.78.
Shares of FANG stock opened at $41.82 on Monday. The company has a market cap of $6.54 billion, a P/E ratio of -107.23, a PEG ratio of 0.78 and a beta of 2.21. The stock has a 50 day simple moving average of $44.90 and a two-hundred day simple moving average of $56.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.93 and a current ratio of 0.95. Diamondback Energy has a fifty-two week low of $14.55 and a fifty-two week high of $111.84.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.16. Diamondback Energy had a positive return on equity of 7.03% and a negative net margin of 1.05%. The firm had revenue of $899.00 million during the quarter, compared to analysts’ expectations of $968.57 million. During the same quarter last year, the firm posted $1.39 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, research analysts predict that Diamondback Energy will post 2.41 earnings per share for the current year.
In other news, CFO Hof Matthew Kaes Van’t bought 1,800 shares of the stock in a transaction on Friday, June 19th. The shares were purchased at an average cost of $46.92 per share, for a total transaction of $84,456.00. Following the completion of the purchase, the chief financial officer now directly owns 53,930 shares in the company, valued at approximately $2,530,395.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Capital Research Global Investors raised its stake in shares of Diamondback Energy by 38.0% in the fourth quarter. Capital Research Global Investors now owns 19,577,175 shares of the oil and natural gas company’s stock valued at $1,817,936,000 after buying an additional 5,391,907 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Diamondback Energy by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 15,594,568 shares of the oil and natural gas company’s stock valued at $408,579,000 after buying an additional 279,250 shares during the period. State Street Corp raised its stake in shares of Diamondback Energy by 10.1% during the 1st quarter. State Street Corp now owns 9,249,613 shares of the oil and natural gas company’s stock valued at $242,340,000 after purchasing an additional 848,568 shares during the period. Wellington Management Group LLP raised its stake in shares of Diamondback Energy by 4.8% during the 1st quarter. Wellington Management Group LLP now owns 9,173,819 shares of the oil and natural gas company’s stock valued at $240,354,000 after purchasing an additional 420,664 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Diamondback Energy by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 2,705,521 shares of the oil and natural gas company’s stock valued at $70,757,000 after purchasing an additional 60,449 shares during the period. Hedge funds and other institutional investors own 96.25% of the company’s stock.
Diamondback Energy Company Profile
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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