Mizuho Analysts Give Diamondback Energy (NASDAQ:FANG) a $122.00 Price Target

Diamondback Energy (NASDAQ:FANG) has been given a $122.00 price target by investment analysts at Mizuho in a research note issued on Saturday, November 25th. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Mizuho’s price objective would suggest a potential upside of 11.87% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. BidaskClub cut Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Northland Securities set a $125.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, August 21st. Piper Jaffray Companies reissued a “buy” rating and issued a $112.00 target price on shares of Diamondback Energy in a research note on Thursday, September 14th. BMO Capital Markets set a $110.00 price target on Diamondback Energy and gave the company a “buy” rating in a report on Saturday, August 12th. Finally, Barclays upped their price target on Diamondback Energy from $93.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have given a buy rating to the company. Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $126.88.

Shares of Diamondback Energy (NASDAQ:FANG) opened at $109.06 on Friday. The firm has a market capitalization of $10,702.20, a price-to-earnings ratio of 23.34, a P/E/G ratio of 0.79 and a beta of 1.09. Diamondback Energy has a 12 month low of $82.77 and a 12 month 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 issued its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The company had revenue of $301.30 million for the quarter, compared to analysts’ expectations of $296.53 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 112.0% on a year-over-year basis. analysts predict that Diamondback Energy will post 5.02 EPS for the current year.

In related news, VP Russell Pantermuehl sold 4,000 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $96.89, for a total transaction of $387,560.00. Following the completion of the sale, the vice president now owns 70,214 shares in the company, valued at $6,803,034.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Molnar sold 5,000 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the sale, the vice president now owns 42,563 shares of the company’s stock, valued at approximately $4,045,187.52. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock worth $2,597,690 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Warburg Pincus LLC grew its holdings in Diamondback Energy by 132.4% during the 2nd quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock valued at $580,188,000 after buying an additional 3,721,519 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Diamondback Energy by 964.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock valued at $164,114,000 after buying an additional 1,674,336 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Diamondback Energy by 20.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock valued at $677,951,000 after buying an additional 1,278,802 shares in the last quarter. Capital World Investors grew its holdings in Diamondback Energy by 98.1% during the 2nd quarter. Capital World Investors now owns 2,516,497 shares of the oil and natural gas company’s stock valued at $223,490,000 after buying an additional 1,246,072 shares in the last quarter. Finally, Boston Partners grew its holdings in Diamondback Energy by 18.1% during the 3rd quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock valued at $771,379,000 after buying an additional 1,208,864 shares in the last quarter.

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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.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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