Diamondback Energy (NASDAQ:FANG) Now Covered by Analysts at MKM Partners

MKM Partners assumed coverage on shares of Diamondback Energy (NASDAQ:FANG) in a research report released on Friday, June 28th, TipRanks reports. The firm issued a buy rating on the oil and natural gas company’s stock.

FANG has been the topic of several other research reports. Northland Securities began coverage on THUNDER BRDG AC/SH SH in a research report on Thursday, June 20th. They set an outperform rating on the stock. Wells Fargo & Co reiterated a hold rating and set a $73.00 price objective on shares of Progressive in a research report on Wednesday, March 13th. ValuEngine cut Yext from a strong-buy rating to a buy rating in a research report on Friday, May 10th. Raymond James reissued an average rating and set a $4.50 target price on shares of John Hancock Financial Opprts Fund in a report on Thursday, May 9th. Finally, KeyCorp lowered Cray from a sector weight rating to a sector weight rating and set a $30.00 target price on the stock. in a report on Thursday, May 23rd. Three investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $158.71.

Shares of Diamondback Energy stock traded up $1.03 on Friday, reaching $104.61. 1,141,870 shares of the company were exchanged, compared to its average volume of 1,273,027. Diamondback Energy has a one year low of $85.19 and a one year high of $140.78. The firm has a market cap of $17.06 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 0.64 and a beta of 0.85. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average is $104.08.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Diamondback Energy had a return on equity of 6.81% and a net margin of 27.05%. The company had revenue of $864.00 million for the quarter, compared to analysts’ expectations of $893.16 million. During the same quarter in the prior year, the business posted $1.64 EPS. The business’s revenue was up 80.4% compared to the same quarter last year. Analysts anticipate that Diamondback Energy will post 7.81 EPS for the current year.

In other Diamondback Energy news, VP Russell Pantermuehl sold 5,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $112.18, for a total value of $560,900.00. Following the completion of the transaction, the vice president now directly owns 117,107 shares in the company, valued at $13,137,063.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $107.47, for a total value of $161,205.00. Following the transaction, the chief financial officer now owns 27,465 shares of the company’s stock, valued at $2,951,663.55. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock valued at $1,258,505 over the last quarter. Corporate insiders own 0.47% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FANG. Ranger Investment Management L.P. bought a new stake in Diamondback Energy in the fourth quarter worth approximately $25,000. Archford Capital Strategies LLC increased its holdings in Diamondback Energy by 1,100.0% in the second quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 220 shares in the last quarter. Berman Capital Advisors LLC increased its holdings in Diamondback Energy by 180.8% in the first quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 188 shares in the last quarter. Manchester Capital Management LLC bought a new stake in Diamondback Energy in the first quarter worth approximately $34,000. Finally, Rehmann Capital Advisory Group increased its holdings in Diamondback Energy by 114.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 401 shares of the oil and natural gas company’s stock worth $37,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 99.10% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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