Diamondback Energy (NASDAQ:FANG) Rating Increased to Hold at StockNews.com

Diamondback Energy (NASDAQ:FANG) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Several other brokerages have also weighed in on FANG. Benchmark reaffirmed a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $205.00 to $215.00 in a research report on Friday, October 4th. Scotiabank decreased their target price on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. Finally, Citigroup started coverage on Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $209.64.

Diamondback Energy Trading Up 0.4 %

Diamondback Energy stock opened at $179.91 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.64 and a current ratio of 0.45. Diamondback Energy has a 1 year low of $145.70 and a 1 year high of $214.50. The firm’s 50-day moving average is $181.45 and its 200-day moving average is $191.96. The company has a market cap of $53.03 billion, a P/E ratio of 10.30, a PEG ratio of 1.28 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.49 earnings per share. On average, equities analysts expect that Diamondback Energy will post 17 earnings per share for the current year.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Institutional Trading of Diamondback Energy

Several large investors have recently added to or reduced their stakes in FANG. Daiwa Securities Group Inc. lifted its stake in Diamondback Energy by 14.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 34,029 shares of the oil and natural gas company’s stock worth $5,867,000 after acquiring an additional 4,170 shares in the last quarter. SevenBridge Financial Group LLC boosted its holdings in shares of Diamondback Energy by 1.0% during the third quarter. SevenBridge Financial Group LLC now owns 18,398 shares of the oil and natural gas company’s stock worth $3,296,000 after purchasing an additional 176 shares during the period. Centaurus Financial Inc. grew its position in Diamondback Energy by 351.4% during the third quarter. Centaurus Financial Inc. now owns 6,830 shares of the oil and natural gas company’s stock valued at $1,177,000 after purchasing an additional 5,317 shares in the last quarter. Alpha DNA Investment Management LLC increased its stake in Diamondback Energy by 13.6% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 3,260 shares of the oil and natural gas company’s stock valued at $562,000 after buying an additional 391 shares during the period. Finally, Larson Financial Group LLC lifted its position in Diamondback Energy by 7.8% in the 3rd quarter. Larson Financial Group LLC now owns 16,199 shares of the oil and natural gas company’s stock worth $2,793,000 after buying an additional 1,176 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Company Profile

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.