Diamondback Energy (NASDAQ:FANG) had its price objective lifted by Jefferies Financial Group from $170.00 to $177.00 in a report released on Tuesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Jefferies Financial Group’s price target points to a potential upside of 36.62% from the stock’s previous close. Jefferies Financial Group also issued estimates for Diamondback Energy’s Q2 2018 earnings at $1.76 EPS, Q3 2018 earnings at $2.11 EPS, Q4 2018 earnings at $2.43 EPS, FY2018 earnings at $7.94 EPS, Q1 2019 earnings at $2.79 EPS, Q2 2019 earnings at $2.64 EPS, Q3 2019 earnings at $2.52 EPS, Q4 2019 earnings at $3.06 EPS, FY2019 earnings at $11.01 EPS, Q1 2020 earnings at $3.83 EPS and FY2020 earnings at $16.78 EPS.
Several other research firms have also weighed in on FANG. JPMorgan Chase & Co. cut their target price on Diamondback Energy from $156.00 to $153.00 and set an “overweight” rating on the stock in a report on Tuesday, May 22nd. Williams Capital restated a “hold” rating and set a $134.00 target price on shares of Diamondback Energy in a report on Wednesday, May 9th. BidaskClub upgraded Diamondback Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 19th. ValuEngine upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a report on Tuesday, March 27th. Finally, Morgan Stanley cut their target price on Diamondback Energy to $159.00 and set an “overweight” rating on the stock in a report on Friday, April 20th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $143.56.
Shares of NASDAQ:FANG opened at $129.56 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.53 and a debt-to-equity ratio of 0.30. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $138.14. The firm has a market cap of $12.58 billion, a P/E ratio of 21.51, a PEG ratio of 0.69 and a beta of 0.74.
In related news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $137.00, for a total transaction of $274,000.00. Following the sale, the vice president now directly owns 91,532 shares of the company’s stock, valued at $12,539,884. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Teresa L. Dick sold 2,500 shares of Diamondback Energy stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $136.98, for a total value of $342,450.00. Following the sale, the chief financial officer now directly owns 26,647 shares in the company, valued at $3,650,106.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,500 shares of company stock worth $972,850. 0.57% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Diamondback Energy by 0.6% during the first quarter. JPMorgan Chase & Co. now owns 5,707,256 shares of the oil and natural gas company’s stock worth $722,082,000 after buying an additional 34,532 shares in the last quarter. BlackRock Inc. lifted its stake in Diamondback Energy by 5.5% during the first quarter. BlackRock Inc. now owns 4,993,647 shares of the oil and natural gas company’s stock worth $631,797,000 after purchasing an additional 261,658 shares during the period. Geode Capital Management LLC lifted its stake in Diamondback Energy by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 876,107 shares of the oil and natural gas company’s stock worth $110,554,000 after purchasing an additional 18,817 shares during the period. William Blair Investment Management LLC lifted its stake in Diamondback Energy by 24.8% during the fourth quarter. William Blair Investment Management LLC now owns 851,819 shares of the oil and natural gas company’s stock worth $107,542,000 after purchasing an additional 169,321 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Diamondback Energy by 76.1% during the fourth quarter. Franklin Resources Inc. now owns 765,062 shares of the oil and natural gas company’s stock worth $96,581,000 after purchasing an additional 330,652 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 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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