Diamondback Energy (NASDAQ:FANG) Upgraded at StockNews.com

Diamondback Energy (NASDAQ:FANG) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Several other brokerages have also issued reports on FANG. Evercore ISI lifted their price target on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Barclays initiated coverage on shares of Diamondback Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price objective on the stock. KeyCorp boosted their price objective on shares of Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Morgan Stanley lowered their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Finally, Benchmark restated a “buy” rating and set a $154.00 price objective on shares of Diamondback Energy in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $209.35.

Diamondback Energy Stock Down 0.5 %

Shares of FANG stock opened at $196.96 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. Diamondback Energy has a 1 year low of $125.69 and a 1 year high of $211.96. The firm’s fifty day moving average price is $196.87 and its two-hundred day moving average price is $180.68. The firm has a market capitalization of $35.13 billion, a P/E ratio of 11.10, a PEG ratio of 1.07 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the business earned $4.10 EPS. The company’s revenue was up 15.7% compared to the same quarter last year. On average, equities analysts predict that Diamondback Energy will post 19.06 EPS for the current fiscal year.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total value of $1,182,840.00. Following the completion of the sale, the chief operating officer now owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders sold 36,900 shares of company stock valued at $7,362,750 in the last quarter. Company insiders own 0.48% of the company’s stock.

Institutional Trading of Diamondback Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC lifted its holdings in shares of Diamondback Energy by 1.8% during the 4th quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock worth $3,058,000 after acquiring an additional 354 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Diamondback Energy by 14.1% during the 4th quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock worth $7,852,000 after acquiring an additional 6,240 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of Diamondback Energy by 145.2% during the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock worth $1,860,000 after acquiring an additional 7,102 shares during the period. Larson Financial Group LLC increased its position in Diamondback Energy by 748.0% during the 4th quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock worth $2,361,000 after purchasing an additional 13,426 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in Diamondback Energy by 613.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after purchasing an additional 13,243 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

About Diamondback Energy

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.