TD Securities Analysts Give Diamondback Energy (FANG) a $175.00 Price Target

Diamondback Energy (NASDAQ:FANG) received a $175.00 price target from equities research analysts at TD Securities in a research report issued on Saturday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. TD Securities’ price objective would suggest a potential upside of 29.82% from the company’s current price.

Several other analysts also recently commented on the stock. Morgan Stanley raised their price objective on shares of Diamondback Energy from $161.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, May 24th. Williams Capital reiterated a “hold” rating and issued a $134.00 price target on shares of Diamondback Energy in a report on Wednesday, May 9th. Jefferies Financial Group set a $181.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a report on Friday, July 13th. BidaskClub upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a report on Friday, April 20th. Finally, KeyCorp lifted their price target on shares of Diamondback Energy from $137.00 to $140.00 and gave the company a “buy” rating in a report on Monday, April 23rd. Three analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $149.88.

Shares of FANG stock traded up $3.65 on Friday, hitting $134.80. 1,340,747 shares of the stock traded hands, compared to its average volume of 885,248. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 0.72 and a beta of 0.62. Diamondback Energy has a 52 week low of $85.73 and a 52 week high of $138.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.53 and a quick ratio of 0.52.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.64 by ($0.05). The firm had revenue of $526.30 million for the quarter, compared to the consensus estimate of $479.57 million. Diamondback Energy had a net margin of 33.37% and a return on equity of 10.73%. The firm’s revenue for the quarter was up 95.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. equities research analysts expect that Diamondback Energy will post 6.76 earnings per share for the current fiscal year.

In related news, CFO Teresa L. Dick sold 2,500 shares of Diamondback Energy stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $136.98, for a total transaction of $342,450.00. Following the completion of the transaction, the chief financial officer now directly owns 26,647 shares of the company’s stock, valued at approximately $3,650,106.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael L. Hollis sold 5,000 shares of Diamondback Energy stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $128.85, for a total transaction of $644,250.00. The disclosure for this sale can be found here. Insiders sold a total of 10,332 shares of company stock valued at $1,367,579 over the last three months. Corporate insiders own 0.57% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FANG. Global X Management Co. LLC raised its holdings in Diamondback Energy by 57.5% in the first quarter. Global X Management Co. LLC now owns 1,320 shares of the oil and natural gas company’s stock valued at $167,000 after acquiring an additional 482 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in Diamondback Energy by 13.2% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 4,300 shares of the oil and natural gas company’s stock worth $566,000 after purchasing an additional 500 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in Diamondback Energy by 5.2% during the first quarter. Xact Kapitalforvaltning AB now owns 10,121 shares of the oil and natural gas company’s stock worth $1,281,000 after purchasing an additional 504 shares in the last quarter. Dana Investment Advisors Inc. raised its holdings in Diamondback Energy by 1.8% during the second quarter. Dana Investment Advisors Inc. now owns 32,945 shares of the oil and natural gas company’s stock worth $4,335,000 after purchasing an additional 572 shares in the last quarter. Finally, Marietta Investment Partners LLC raised its holdings in Diamondback Energy by 1.0% during the second quarter. Marietta Investment Partners LLC now owns 64,307 shares of the oil and natural gas company’s stock worth $8,461,000 after purchasing an additional 618 shares in the last quarter.

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.

Recommended Story: How do investors use RSI to grade stocks?

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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.

Leave a Reply