Diamondback Energy (NASDAQ:FANG) Stock Rating Upgraded by Barclays

Barclays upgraded shares of Diamondback Energy (NASDAQ:FANG) from an equal weight rating to an overweight rating in a research report sent to investors on Monday, November 20th. They currently have $137.00 price target on the oil and natural gas company’s stock.

Other analysts have also issued research reports about the company. Zacks Investment Research lowered Diamondback Energy from a buy rating to a hold rating in a research note on Thursday, November 9th. Jefferies Group assumed coverage on Diamondback Energy in a research note on Monday, October 9th. They set a buy rating and a $124.00 target price on the stock. Northland Securities reiterated a buy rating and set a $125.00 target price on shares of Diamondback Energy in a research note on Tuesday, September 26th. KeyCorp reiterated a buy rating and set a $113.00 target price on shares of Diamondback Energy in a research note on Wednesday, September 6th. Finally, Goldman Sachs Group downgraded Diamondback Energy from a conviction-buy rating to a buy rating and raised their target price for the company from $106.53 to $118.00 in a report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $126.88.

Diamondback Energy (NASDAQ:FANG) traded down $2.73 during midday trading on Monday, reaching $106.33. The company had a trading volume of 1,027,558 shares, compared to its average volume of 1,345,153. Diamondback Energy has a fifty-two week low of $82.77 and a fifty-two week 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. The company has a market capitalization of $10,490.00, a P/E ratio of 23.34, a PEG ratio of 0.79 and a beta of 1.09.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.31. The company had revenue of $301.30 million during the quarter, compared to analysts’ expectations of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. Diamondback Energy’s revenue for the quarter was up 112.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) earnings per share. equities research analysts predict that Diamondback Energy will post 5.02 EPS for the current year.

In other Diamondback Energy news, VP Paul Molnar sold 5,000 shares of the company’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 completion of the sale, the vice president now directly owns 42,563 shares in the company, valued at $4,045,187.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 sale, the vice president now owns 70,214 shares of the company’s stock, valued at $6,803,034.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,400 shares of company stock worth $2,753,230. 0.41% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Diamondback Energy by 1.6% during the second quarter. FMR LLC now owns 11,609,146 shares of the oil and natural gas company’s stock valued at $1,031,009,000 after acquiring an additional 185,890 shares in the last quarter. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 651,353 shares during the last quarter. Boston Partners boosted its holdings in 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 purchasing an additional 1,208,864 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 1,278,802 shares during the last quarter. Finally, Warburg Pincus LLC boosted its holdings in 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 purchasing an additional 3,721,519 shares during 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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