Jefferies Financial Group Initiates Coverage on Diamondback Energy (NASDAQ:FANG)

Analysts at Jefferies Financial Group started coverage on shares of Diamondback Energy (NASDAQ:FANG) in a research note issued to investors on Monday, Marketbeat reports. The brokerage set a “hold” rating and a $185.00 price target on the oil and natural gas company’s stock. Jefferies Financial Group’s target price points to a potential upside of 2.91% from the company’s current price.

FANG has been the subject of a number of other reports. UBS Group lifted their price target on shares of Diamondback Energy from $245.00 to $247.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Susquehanna reduced their price target on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Benchmark reissued a “buy” rating and set a $154.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 6th. Sanford C. Bernstein cut their price objective on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Finally, StockNews.com lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average price target of $210.86.

Diamondback Energy Trading Up 2.8 %

Shares of FANG stock opened at $179.77 on Monday. The company has a market cap of $32.06 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. Diamondback Energy has a 1 year low of $143.08 and a 1 year high of $214.50. The stock’s 50 day simple moving average is $193.74 and its two-hundred day simple moving average is $195.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. Diamondback Energy’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.68 EPS. Research analysts predict that Diamondback Energy will post 19.08 earnings per share for the current year.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors have recently added to or reduced their stakes in the stock. Founders Capital Management boosted its holdings in shares of Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after buying an additional 101 shares in the last quarter. First Community Trust NA purchased a new stake in Diamondback Energy during the second quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC boosted its stake in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Logan Capital Management Inc. purchased a new position in Diamondback Energy in the fourth quarter worth $31,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the second quarter worth $40,000. Institutional investors own 90.01% of the company’s stock.

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.