ValuEngine downgraded shares of Diamondback Energy (NASDAQ:FANG) from a hold rating to a sell rating in a research report released on Tuesday morning.
Other research analysts have also recently issued research reports about the company. BidaskClub cut Diamondback Energy from a strong-buy rating to a buy rating in a report on Saturday, October 13th. Morgan Stanley set a $171.00 target price on Diamondback Energy and gave the company a buy rating in a report on Friday, October 12th. Zacks Investment Research upgraded Diamondback Energy from a hold rating to a buy rating and set a $126.00 target price on the stock in a report on Thursday, October 25th. Williams Capital set a $171.00 target price on Diamondback Energy and gave the company a buy rating in a report on Wednesday, November 7th. Finally, Oppenheimer reiterated a buy rating on shares of Diamondback Energy in a report on Tuesday, November 6th. Two research analysts have rated the stock with a sell rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Diamondback Energy presently has a consensus rating of Buy and a consensus target price of $158.43.
Shares of FANG stock traded down $0.31 during mid-day trading on Tuesday, hitting $101.57. 20,863 shares of the company’s stock were exchanged, compared to its average volume of 1,749,298. Diamondback Energy has a fifty-two week low of $85.19 and a fifty-two week high of $140.78. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 0.49 and a beta of 0.93.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.15. Diamondback Energy had a return on equity of 10.75% and a net margin of 33.63%. The business had revenue of $538.03 million for the quarter, compared to analysts’ expectations of $518.32 million. During the same quarter last year, the firm earned $1.33 earnings per share. The business’s revenue was up 78.6% on a year-over-year basis. As a group, analysts anticipate that Diamondback Energy will post 6.61 earnings per share for the current fiscal year.
In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 1,000 shares of the firm’s stock in a transaction dated Thursday, December 20th. The stock was sold at an average price of $89.91, for a total value of $89,910.00. Following the transaction, the vice president now directly owns 5,757 shares of the company’s stock, valued at $517,611.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.57% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legacy Financial Advisors Inc. purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $30,000. Oregon Public Employees Retirement Fund increased its position in shares of Diamondback Energy by 28,126.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock worth $32,000 after acquiring an additional 2,971,317 shares during the last quarter. Webster Bank N. A. purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $36,000. Dubuque Bank & Trust Co. purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $49,000. Finally, Trust Co. of Vermont purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $60,000.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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