Diamondback Energy (NASDAQ:FANG) PT Raised to $100.00 at Credit Suisse Group


Share on StockTwits

Diamondback Energy (NASDAQ:FANG) had its price objective upped by equities research analysts at Credit Suisse Group from $95.00 to $100.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the oil and natural gas company’s stock. Credit Suisse Group’s target price indicates a potential upside of 26.21% from the stock’s current price.

A number of other research analysts also recently weighed in on FANG. Johnson Rice downgraded Diamondback Energy from an “accumulate” rating to a “hold” rating in a report on Tuesday, March 9th. Morgan Stanley boosted their target price on shares of Diamondback Energy from $103.00 to $107.00 and gave the company an “overweight” rating in a research report on Monday, April 26th. Cowen boosted their price objective on shares of Diamondback Energy from $60.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, January 20th. The Goldman Sachs Group began coverage on Diamondback Energy in a report on Tuesday, April 20th. They set a “buy” rating and a $99.00 price target for the company. Finally, TheStreet raised Diamondback Energy from a “d+” rating to a “c-” rating in a research report on Friday, March 12th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $81.13.

Diamondback Energy stock traded down $4.69 on Tuesday, hitting $79.23. 44,023 shares of the stock traded hands, compared to its average volume of 2,911,177. Diamondback Energy has a 1 year low of $23.63 and a 1 year high of $88.75. The firm has a market cap of $14.34 billion, a P/E ratio of -2.94, a price-to-earnings-growth ratio of 0.59 and a beta of 2.59. The company has a current ratio of 0.45, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $77.44 and its 200 day simple moving average is $58.06.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 3rd. The oil and natural gas company reported $2.30 EPS for the quarter, topping the consensus estimate of $1.73 by $0.57. Diamondback Energy had a negative net margin of 135.48% and a positive return on equity of 5.10%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $864.18 million. During the same quarter in the previous year, the firm posted $1.45 earnings per share. Diamondback Energy’s quarterly revenue was up 31.7% on a year-over-year basis. As a group, analysts predict that Diamondback Energy will post 3.06 earnings per share for the current year.

In related news, CEO Travis D. Stice sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $85.00, for a total value of $1,700,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,900 shares of the stock in a transaction on Friday, March 19th. The shares were sold at an average price of $77.24, for a total value of $146,756.00. Following the completion of the transaction, the chief financial officer now owns 67,043 shares in the company, valued at $5,178,401.32. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of FANG. Boston Partners raised its position in shares of Diamondback Energy by 14.5% in the 4th quarter. Boston Partners now owns 2,622,195 shares of the oil and natural gas company’s stock valued at $126,915,000 after acquiring an additional 332,086 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Diamondback Energy by 23.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,826,749 shares of the oil and natural gas company’s stock worth $88,415,000 after buying an additional 343,400 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Diamondback Energy by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,208,281 shares of the oil and natural gas company’s stock valued at $58,481,000 after acquiring an additional 41,066 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Diamondback Energy by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,121,378 shares of the oil and natural gas company’s stock valued at $54,274,000 after acquiring an additional 350,151 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Diamondback Energy by 131.0% in the 4th quarter. Wells Fargo & Company MN now owns 1,028,050 shares of the oil and natural gas company’s stock worth $49,757,000 after acquiring an additional 583,073 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors.

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.

See Also: Bull Market

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.