Stifel Nicolaus Analysts Give Diamondback Energy, Inc. (FANG) a $129.00 Price Target

Stifel Nicolaus set a $129.00 price objective on Diamondback Energy, Inc. (NASDAQ:FANG) in a research report sent to investors on Thursday, October 5th. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Diamondback Energy from a hold rating to a sell rating in a report on Monday, July 17th. BidaskClub downgraded Diamondback Energy from a sell rating to a strong sell rating in a report on Tuesday, June 20th. US Capital Advisors reaffirmed a buy rating on shares of Diamondback Energy in a report on Monday, October 2nd. Piper Jaffray Companies reiterated a buy rating and issued a $112.00 price objective on shares of Diamondback Energy in a research note on Thursday, September 14th. Finally, BMO Capital Markets reiterated a buy rating and issued a $100.00 price objective on shares of Diamondback Energy in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have given a buy rating to the company. Diamondback Energy has an average rating of Buy and an average price target of $122.13.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.44. The firm had revenue of $267.40 million during the quarter, compared to the consensus estimate of $258.75 million. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The firm’s quarterly revenue was up 137.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 earnings per share.

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In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 650 shares of the business’s 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 transaction, the vice president now owns 4,950 shares in the company, valued at $438,025.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael L. Hollis sold 2,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $102.44, for a total value of $204,880.00. The disclosure for this sale can be found here. Insiders sold 13,805 shares of company stock worth $1,334,381 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its position in shares of Diamondback Energy by 1.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock worth $224,000 after buying an additional 40 shares during the last quarter. Green Square Capital LLC lifted its position in shares of Diamondback Energy by 1.2% in the second quarter. Green Square Capital LLC now owns 3,531 shares of the oil and natural gas company’s stock worth $314,000 after buying an additional 42 shares during the last quarter. Profund Advisors LLC lifted its position in shares of Diamondback Energy by 1.5% in the second quarter. Profund Advisors LLC now owns 4,163 shares of the oil and natural gas company’s stock worth $370,000 after buying an additional 62 shares during the last quarter. American International Group Inc. lifted its position in shares of Diamondback Energy by 5.8% in the first quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock worth $239,000 after buying an additional 126 shares during the last quarter. Finally, AT Bancorp lifted its position in shares of Diamondback Energy by 1.8% in the second quarter. AT Bancorp now owns 8,475 shares of the oil and natural gas company’s stock worth $753,000 after buying an additional 151 shares during the last quarter. 98.59% of the stock is owned by institutional investors.

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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