Diamondback Energy, Inc. (NASDAQ:FANG) Given Average Rating of “Moderate Buy” by Analysts

Diamondback Energy, Inc. (NASDAQ:FANG) has earned an average recommendation of “Moderate Buy” from the twenty-three research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $210.09.

FANG has been the subject of a number of research analyst reports. Bank of America increased their price target on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Evercore ISI cut their target price on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Sanford C. Bernstein lowered their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 price target on the stock. Finally, UBS Group reduced their price objective on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th.

Diamondback Energy Stock Up 2.2 %

FANG stock opened at $179.76 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The firm has a market capitalization of $52.98 billion, a P/E ratio of 9.29, a P/E/G ratio of 1.24 and a beta of 1.89. Diamondback Energy has a 52-week low of $145.70 and a 52-week high of $214.50. The company’s 50 day simple moving average is $182.94 and its 200-day simple moving average is $192.79.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.68 earnings per share. As a group, equities research analysts anticipate that Diamondback Energy will post 17.1 EPS for the current year.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Diamondback Energy

Large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Diamondback Energy by 178.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock valued at $6,112,000 after buying an additional 19,552 shares during the last quarter. Cullen Investment Group LTD. raised its holdings in Diamondback Energy by 33.5% in the 3rd quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after acquiring an additional 3,008 shares in the last quarter. ORG Partners LLC raised its holdings in Diamondback Energy by 2,768.9% in the 2nd quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock valued at $883,000 after acquiring an additional 4,181 shares in the last quarter. Homestead Advisers Corp bought a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $87,940,000. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of Diamondback Energy during the 1st quarter worth approximately $5,148,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It 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.