Stephens reissued their buy rating on shares of Diamondback Energy (NASDAQ:FANG) in a report issued on Friday, February 16th. Stephens currently has a $159.00 price objective on the oil and natural gas company’s stock.
Other research analysts have also recently issued research reports about the stock. Credit Suisse Group set a $143.00 price target on shares of Diamondback Energy and gave the company a buy rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $138.00 to $167.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Piper Jaffray Companies reiterated a buy rating and set a $138.00 price target on shares of Diamondback Energy in a research note on Tuesday, January 9th. Stifel Nicolaus set a $149.00 target price on shares of Diamondback Energy and gave the stock a buy rating in a research note on Tuesday, January 30th. Finally, Mizuho set a $148.00 price target on Diamondback Energy and gave the company a buy rating in a report on Tuesday, January 16th. Four research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $139.40.
Diamondback Energy (NASDAQ FANG) traded down $1.34 during mid-day trading on Friday, reaching $125.81. 1,040,000 shares of the company were exchanged, compared to its average volume of 1,370,000. Diamondback Energy has a one year low of $82.77 and a one year high of $134.52. The company has a quick ratio of 0.61, a current ratio of 0.62 and a debt-to-equity ratio of 0.26. The firm has a market cap of $12,350.00, a PE ratio of 25.42, a PEG ratio of 0.72 and a beta of 0.91.
In other news, CEO Travis D. Stice sold 87,150 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $125.20, for a total value of $10,911,180.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Teresa L. Dick sold 10,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $115.84, for a total value of $1,158,400.00. Following the completion of the transaction, the chief financial officer now owns 25,760 shares of the company’s stock, valued at approximately $2,984,038.40. The disclosure for this sale can be found here. Insiders have sold a total of 192,431 shares of company stock worth $24,001,312 over the last 90 days. 0.41% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in FANG. Boston Partners boosted its position 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 worth $771,379,000 after acquiring an additional 1,208,864 shares during the period. Viking Global Investors LP acquired a new position in Diamondback Energy during the 4th quarter worth $78,139,000. Carillon Tower Advisers Inc. acquired a new position in Diamondback Energy during the 4th quarter worth $72,286,000. Franklin Resources Inc. boosted its position in Diamondback Energy by 76.1% during the 4th quarter. Franklin Resources Inc. now owns 765,062 shares of the oil and natural gas company’s stock worth $96,581,000 after acquiring an additional 330,652 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in shares of Diamondback Energy by 33.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,263,001 shares of the oil and natural gas company’s stock worth $126,300,000 after buying an additional 318,035 shares in the last quarter.
TRADEMARK VIOLATION NOTICE: “Diamondback Energy (FANG) Receives Buy Rating from Stephens” was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://stocknewstimes.com/2018/03/14/diamondback-energys-fang-buy-rating-reiterated-at-stephens.html.
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.
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.