SunTrust Banks, Inc. restated their buy rating on shares of Diamondback Energy, Inc. (NASDAQ:FANG) in a report issued on Friday morning. The firm currently has a $130.00 target price on the oil and natural gas company’s stock. SunTrust Banks also issued estimates for Diamondback Energy’s Q4 2017 earnings at $1.45 EPS, FY2017 earnings at $5.07 EPS, FY2018 earnings at $6.17 EPS, FY2019 earnings at $8.64 EPS and FY2020 earnings at $11.00 EPS.
Several other research analysts also recently commented on FANG. Zacks Investment Research downgraded Diamondback Energy from a hold rating to a sell rating in a report on Monday, July 17th. Northland Securities set a $125.00 price objective on Diamondback Energy and gave the stock a buy rating in a report on Monday, July 17th. Imperial Capital initiated coverage on Diamondback Energy in a report on Tuesday, July 18th. They set an outperform rating and a $110.00 price objective on the stock. BidaskClub upgraded Diamondback Energy from a sell rating to a hold rating in a report on Wednesday, July 19th. Finally, Bank of America Corporation initiated coverage on Diamondback Energy in a report on Wednesday, July 19th. They set a buy rating and a $115.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $123.96.
Shares of Diamondback Energy (NASDAQ FANG) opened at $110.97 on Friday. The firm has a market capitalization of $10,980.99, a P/E ratio of 23.95, a PEG ratio of 0.82 and a beta of 1.10. Diamondback Energy has a fifty-two week low of $82.77 and a fifty-two week high of $114.93. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.02 by $0.31. The company had revenue of $301.30 million for the quarter, compared to the consensus estimate of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. Diamondback Energy’s quarterly revenue was up 112.0% on a year-over-year basis. During the same period last year, the business posted ($0.03) EPS. research analysts anticipate that Diamondback Energy will post 5.01 EPS for the current year.
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In other Diamondback Energy news, VP Russell Pantermuehl sold 4,000 shares of Diamondback Energy stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $109.55, for a total transaction of $438,200.00. Following the completion of the sale, the vice president now owns 64,214 shares of the company’s stock, valued at approximately $7,034,643.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Hof Matthew Kaes Van’t sold 650 shares of Diamondback Energy stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $88.49, for a total value of $57,518.50. Following the sale, the vice president now directly owns 4,950 shares of the company’s stock, valued at approximately $438,025.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,805 shares of company stock valued at $1,887,581. 0.41% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Green Square Capital LLC lifted its position in Diamondback Energy by 1.2% during the 2nd quarter. Green Square Capital LLC now owns 3,531 shares of the oil and natural gas company’s stock worth $314,000 after acquiring an additional 42 shares during the period. Profund Advisors LLC lifted its holdings in shares of Diamondback Energy by 1.5% in the 2nd quarter. Profund Advisors LLC now owns 4,163 shares of the oil and natural gas company’s stock valued at $370,000 after buying an additional 62 shares during the period. American International Group Inc. lifted its holdings in shares of Diamondback Energy by 5.8% in the 1st quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock valued at $239,000 after buying an additional 126 shares during the period. AT Bancorp lifted its holdings in shares of Diamondback Energy by 1.8% in the 2nd quarter. AT Bancorp now owns 8,475 shares of the oil and natural gas company’s stock valued at $753,000 after buying an additional 151 shares during the period. Finally, Energy Opportunities Capital Management LLC lifted its holdings in shares of Diamondback Energy by 1.1% in the 2nd quarter. Energy Opportunities Capital Management LLC now owns 16,000 shares of the oil and natural gas company’s stock valued at $1,421,000 after buying an additional 170 shares during the period.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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