Morgan Stanley Lowers Diamondback Energy (NASDAQ:FANG) Price Target to $143.00

Diamondback Energy (NASDAQ:FANG) had its price objective reduced by analysts at Morgan Stanley from $151.00 to $143.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s target price would indicate a potential upside of 29.03% from the stock’s current price.

Several other research firms have also recently issued reports on FANG. Northland Securities started coverage on shares of THUNDER BRDG AC/SH SH in a research report on Thursday, June 20th. They set an “outperform” rating for the company. Williams Capital set a $165.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Raymond James reaffirmed an “average” rating and set a $4.50 price objective on shares of John Hancock Financial Opprts Fund in a research report on Thursday, May 9th. Roth Capital decreased their price objective on shares of Diamondback Energy from $166.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Finally, ValuEngine cut shares of Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $158.48.

Diamondback Energy stock opened at $110.83 on Friday. The stock has a market cap of $18.00 billion, a PE ratio of 18.88, a P/E/G ratio of 0.67 and a beta of 0.85. The stock’s fifty day moving average price is $103.67. Diamondback Energy has a 12-month low of $85.19 and a 12-month high of $140.78. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 0.32.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The business had revenue of $864.00 million during the quarter, compared to analysts’ expectations of $893.16 million. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The company’s revenue for the quarter was up 80.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.64 EPS. On average, sell-side analysts expect that Diamondback Energy will post 7.95 earnings per share for the current year.

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 1,500 shares of Diamondback Energy stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.47, for a total value of $161,205.00. Following the transaction, the chief financial officer now directly owns 27,465 shares in the company, valued at $2,951,663.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.28, for a total transaction of $536,400.00. Following the completion of the transaction, the vice president now owns 112,107 shares in the company, valued at $12,026,838.96. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock worth $1,258,505 over the last quarter. 0.47% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ranger Investment Management L.P. acquired a new position in Diamondback Energy in the fourth quarter valued at $25,000. Berman Capital Advisors LLC increased its stake in Diamondback Energy by 180.8% in the first quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 188 shares during the period. Manchester Capital Management LLC acquired a new position in Diamondback Energy in the first quarter valued at $34,000. Bronfman E.L. Rothschild L.P. increased its stake in Diamondback Energy by 136.7% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 400 shares of the oil and natural gas company’s stock valued at $37,000 after purchasing an additional 231 shares during the period. Finally, Somerset Trust Co increased its stake in Diamondback Energy by 162.6% in the first quarter. Somerset Trust Co now owns 617 shares of the oil and natural gas company’s stock valued at $63,000 after purchasing an additional 382 shares during the period. Institutional investors own 98.84% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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