Diamondback Energy (NASDAQ:FANG) Stock Rating Upgraded by Wolfe Research

Diamondback Energy (NASDAQ:FANG) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Friday,Briefing.com Automated Import reports. The brokerage currently has a $190.00 price target on the oil and natural gas company’s stock. Wolfe Research’s price objective would indicate a potential upside of 13.92% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. The Goldman Sachs Group began coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price on the stock. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. KeyCorp decreased their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Finally, Susquehanna lowered their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.83.

Diamondback Energy Trading Up 1.8 %

Shares of NASDAQ FANG opened at $166.78 on Friday. Diamondback Energy has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. The firm has a market capitalization of $48.70 billion, a P/E ratio of 9.55, a P/E/G ratio of 1.21 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company’s 50 day simple moving average is $171.52 and its 200 day simple moving average is $184.77.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $5.49 EPS. On average, analysts predict that Diamondback Energy will post 16.28 EPS for the current year.

Insider Buying and Selling at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

A number of institutional investors have recently made changes to their positions in FANG. Carolinas Wealth Consulting LLC lifted its stake in shares of 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 worth $27,000 after acquiring an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new stake in Diamondback Energy during the 2nd quarter worth about $40,000. Values First Advisors Inc. bought a new position in shares of Diamondback Energy in the 3rd quarter worth about $42,000. CVA Family Office LLC lifted its stake in Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after buying an additional 65 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group increased its stake in shares of Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 136 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

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.