Diamondback Energy (NASDAQ:FANG) Earns “Buy” Rating from SunTrust Banks

Diamondback Energy (NASDAQ:FANG)‘s stock had its “buy” rating reaffirmed by analysts at SunTrust Banks in a research report issued on Friday, November 10th. They currently have a $130.00 target price on the oil and natural gas company’s stock. SunTrust Banks’ price target suggests a potential upside of 20.20% from the stock’s current price. 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 equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Imperial Capital increased their price target on shares of Diamondback Energy from $113.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. KeyCorp reissued an “overweight” rating and set a $125.00 price target (up previously from $117.00) on shares of Diamondback Energy in a research report on Tuesday, November 7th. Morgan Stanley increased their price target on shares of Diamondback Energy from $118.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Finally, Williams Capital reissued a “hold” rating and set a $114.00 price target (up previously from $110.00) on shares of Diamondback Energy in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $126.75.

Shares of Diamondback Energy (NASDAQ FANG) traded down $0.08 during trading hours on Friday, hitting $108.15. 528,100 shares of the stock were exchanged, compared to its average volume of 1,355,952. 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 has a 1 year low of $82.77 and a 1 year high of $114.93. The company has a market cap of $10,620.00, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 0.80 and a beta of 1.10.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The company had revenue of $301.30 million for the quarter, compared to analyst estimates of $296.53 million. During the same quarter last year, the firm earned ($0.03) EPS. The firm’s quarterly revenue was up 112.0% compared to the same quarter last year. research analysts forecast that Diamondback Energy will post 5.02 earnings per share for the current fiscal year.

In other Diamondback Energy news, insider Michael L. Hollis sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $100.00, for a total transaction of $100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul Molnar sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $95.04, for a total transaction of $475,200.00. Following the sale, the vice president now owns 42,563 shares of the company’s stock, valued at $4,045,187.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,155 shares of company stock valued at $2,389,013. 0.41% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Diamondback Energy by 1.6% in the second quarter. FMR LLC now owns 11,609,146 shares of the oil and natural gas company’s stock worth $1,031,009,000 after acquiring an additional 185,890 shares during the period. Vanguard Group Inc. grew its stake in shares of Diamondback Energy by 8.9% in the second quarter. Vanguard Group Inc. now owns 7,988,153 shares of the oil and natural gas company’s stock worth $709,428,000 after acquiring an additional 651,353 shares during the period. Boston Partners grew its stake in shares of Diamondback Energy by 18.1% in the third quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock worth $771,379,000 after acquiring an additional 1,208,864 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Diamondback Energy by 20.1% in the second quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock worth $677,951,000 after acquiring an additional 1,278,802 shares during the period. Finally, Warburg Pincus LLC grew its stake in shares of Diamondback Energy by 132.4% in the second quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock worth $580,188,000 after acquiring an additional 3,721,519 shares during the period.

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About Diamondback Energy

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.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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