Diamondback Energy (NASDAQ:FANG) had its price target increased by investment analysts at Morgan Stanley from $152.00 to $153.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s price target points to a potential upside of 38.93% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $148.00 price target on shares of Diamondback Energy in a report on Monday, March 11th. ValuEngine raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Williams Capital reissued a “buy” rating and issued a $165.00 target price on shares of Diamondback Energy in a report on Wednesday, May 8th. BidaskClub raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, KeyCorp boosted their target price on shares of Diamondback Energy from $116.00 to $124.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $160.83.
NASDAQ:FANG traded up $1.07 during trading hours on Thursday, hitting $110.13. 6,957 shares of the stock traded hands, compared to its average volume of 1,903,233. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.62 and a quick ratio of 0.60. Diamondback Energy has a 1 year low of $85.19 and a 1 year high of $140.78. The company has a market capitalization of $17.74 billion, a P/E ratio of 18.75, a P/E/G ratio of 0.65 and a beta of 0.80.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The business had revenue of $864.00 million for the quarter, compared to the consensus estimate of $893.16 million. During the same quarter in the previous year, the firm earned $1.64 earnings per share. The company’s revenue for the quarter was up 80.4% on a year-over-year basis. On average, sell-side analysts anticipate that Diamondback Energy will post 8.03 earnings per share for the current fiscal year.
In other news, insider Randall J. Holder sold 4,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $104.13, for a total transaction of $416,520.00. Following the completion of the sale, the insider now directly owns 14,448 shares of the company’s stock, valued at $1,504,470.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael L. Hollis bought 5,313 shares of the stock in a transaction dated Friday, March 8th. The shares were bought at an average cost of $95.12 per share, with a total value of $505,372.56. The disclosure for this purchase can be found here. Insiders have sold 6,050 shares of company stock valued at $626,158 over the last three months. Insiders own 0.47% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Ranger Investment Management L.P. purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at $25,000. Berman Capital Advisors LLC boosted its stake in shares of Diamondback Energy by 180.8% during the first quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 188 shares during the period. Legacy Financial Advisors Inc. purchased a new stake in Diamondback Energy in the fourth quarter worth about $30,000. Manchester Capital Management LLC purchased a new stake in Diamondback Energy in the first quarter worth about $34,000. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in Diamondback Energy by 136.7% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 400 shares of the oil and natural gas company’s stock worth $37,000 after acquiring an additional 231 shares during the period.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
Recommended Story: What does earnings per share mean?