Diamondback Energy (NASDAQ:FANG) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Diamondback Energy (NASDAQ:FANG) from a buy rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

A number of other equities research analysts also recently issued reports on the stock. Citigroup lifted their price target on shares of Diamondback Energy from $42.00 to $44.00 and gave the company a buy rating in a research report on Wednesday, April 29th. Mizuho raised their price objective on shares of Diamondback Energy from $61.00 to $62.00 in a research note on Friday, June 19th. Bank of America reissued a buy rating and set a $57.00 price objective (up from $52.00) on shares of Diamondback Energy in a research note on Monday, May 4th. ValuEngine raised shares of Diamondback Energy from a strong sell rating to a sell rating in a research note on Friday, May 1st. Finally, Roth Capital raised shares of Diamondback Energy from a neutral rating to a buy rating and set a $49.00 price objective for the company in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Diamondback Energy presently has an average rating of Buy and a consensus price target of $70.78.

FANG stock opened at $41.82 on Friday. The firm has a 50 day moving average of $44.90 and a 200-day moving average of $56.49. Diamondback Energy has a 12-month low of $14.55 and a 12-month high of $111.84. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.40. The company has a market cap of $6.54 billion, a price-to-earnings ratio of -107.23, a PEG ratio of 0.78 and a beta of 2.21.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.16. Diamondback Energy had a negative net margin of 1.05% and a positive return on equity of 7.03%. The company had revenue of $899.00 million during the quarter, compared to the consensus estimate of $968.57 million. During the same period last year, the firm earned $1.39 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts forecast that Diamondback Energy will post 2.41 earnings per share for the current fiscal year.

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t bought 1,800 shares of Diamondback Energy stock in a transaction that occurred on Friday, June 19th. The shares were acquired at an average price of $46.92 per share, for a total transaction of $84,456.00. Following the acquisition, the chief financial officer now owns 53,930 shares of the company’s stock, valued at approximately $2,530,395.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.52% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Diamondback Energy by 15.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,512 shares of the oil and natural gas company’s stock valued at $140,000 after acquiring an additional 199 shares in the last quarter. SRB Corp lifted its holdings in Diamondback Energy by 4.0% in the 1st quarter. SRB Corp now owns 7,198 shares of the oil and natural gas company’s stock worth $189,000 after buying an additional 278 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in Diamondback Energy by 2.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 13,139 shares of the oil and natural gas company’s stock worth $344,000 after buying an additional 298 shares in the last quarter. Standard Life Aberdeen plc lifted its holdings in Diamondback Energy by 0.6% in the 4th quarter. Standard Life Aberdeen plc now owns 61,704 shares of the oil and natural gas company’s stock worth $5,730,000 after buying an additional 338 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new position in Diamondback Energy in the 4th quarter worth $37,000. Institutional investors and hedge funds own 96.25% of the company’s stock.

Diamondback Energy Company Profile

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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