Diamondback Energy (NASDAQ:FANG) had its target price lifted by investment analysts at Jefferies Financial Group from $170.00 to $177.00 in a research note issued on Tuesday, MarketBeat reports. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 36.62% from the stock’s current price. 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.
FANG has been the subject of a number of other research reports. BidaskClub cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Stifel Nicolaus set a $169.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, April 10th. Piper Jaffray Companies restated a “buy” rating and issued a $141.00 price objective on shares of Diamondback Energy in a research report on Friday, April 6th. UBS Group assumed coverage on shares of Diamondback Energy in a research report on Wednesday, March 7th. They issued a “buy” rating and a $155.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Diamondback Energy from $155.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 1st. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $143.56.
Diamondback Energy opened at $129.56 on Tuesday, MarketBeat reports. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $138.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.53 and a quick ratio of 0.52. The company has a market capitalization of $12.58 billion, a PE ratio of 21.51, a PEG ratio of 0.69 and a beta of 0.74.
In other news, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $137.00, for a total value of $274,000.00. Following the completion of the transaction, the vice president now owns 91,532 shares of the company’s stock, valued at approximately $12,539,884. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Teresa L. Dick sold 2,500 shares of the business’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock valued at $972,850 in the last ninety days. Company insiders own 0.57% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Next Century Growth Investors LLC acquired a new position in shares of Diamondback Energy in the 1st quarter valued at $121,000. ClariVest Asset Management LLC grew its holdings in shares of Diamondback Energy by 14,557.1% in the 1st quarter. ClariVest Asset Management LLC now owns 1,026 shares of the oil and natural gas company’s stock valued at $130,000 after buying an additional 1,019 shares during the period. Signaturefd LLC acquired a new position in shares of Diamondback Energy in the 1st quarter valued at $132,000. Zions Bancorporation acquired a new position in shares of Diamondback Energy in the 1st quarter valued at $136,000. Finally, Captrust Financial Advisors acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $149,000.
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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