Diamondback Energy’s (FANG) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Diamondback Energy (NASDAQ:FANG)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $210.00 target price on the oil and natural gas company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 18.56% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. UBS Group decreased their price target on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price target for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Scotiabank decreased their target price on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Mizuho decreased their price objective on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Raymond James upped their price target on shares of Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $214.17.

Diamondback Energy Price Performance

FANG stock traded down $0.47 during midday trading on Thursday, reaching $177.12. The company had a trading volume of 450,084 shares, compared to its average volume of 1,875,127. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy has a 1-year low of $147.93 and a 1-year high of $214.50. The company has a market capitalization of $51.72 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. The stock has a 50 day moving average price of $170.46 and a 200-day moving average price of $182.51.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $5.49 EPS. Equities research analysts expect that Diamondback Energy will post 15.58 earnings per share for the current year.

Insider Activity at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds have recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Diamondback Energy during the 4th quarter valued at $29,000. UMB Bank n.a. increased its stake in Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Values First Advisors Inc. purchased a new stake in Diamondback Energy in the third quarter valued at approximately $42,000. CVA Family Office LLC grew its position in 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 in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group increased its position in shares of Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.