Diamondback Energy (NASDAQ:FANG) had its target price raised by KeyCorp from $116.00 to $124.00 in a research note issued to investors on Monday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the oil and natural gas company’s stock. KeyCorp also issued estimates for Diamondback Energy’s Q1 2019 earnings at $1.25 EPS, Q2 2019 earnings at $1.82 EPS, Q3 2019 earnings at $1.98 EPS, Q4 2019 earnings at $2.26 EPS and FY2019 earnings at $7.31 EPS.
Several other equities research analysts have also recently issued reports on FANG. Oppenheimer set a $158.00 target price on Diamondback Energy and gave the stock a buy fang rating in a report on Monday, December 24th. Goldman Sachs Group reaffirmed a buy rating on shares of Diamondback Energy in a report on Friday, December 28th. ValuEngine raised Diamondback Energy from a sell rating to a hold rating in a report on Saturday, January 5th. BidaskClub raised Diamondback Energy from a sell rating to a hold rating in a report on Saturday, January 5th. Finally, BMO Capital Markets raised Diamondback Energy from a market perform rating to an outperform rating in a report on Monday, January 7th. Three research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $159.91.
Shares of FANG stock opened at $109.61 on Monday. Diamondback Energy has a 12-month low of $85.19 and a 12-month high of $140.78. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $18.02 billion, a PE ratio of 18.67, a PEG ratio of 0.70 and a beta of 0.80.
In other Diamondback Energy news, VP Jennifer Soliman sold 350 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $104.41, for a total transaction of $36,543.50. Following the sale, the vice president now directly owns 2,624 shares of the company’s stock, valued at $273,971.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $101.82, for a total value of $173,094.00. Following the sale, the chief financial officer now directly owns 28,965 shares in the company, valued at $2,949,216.30. The disclosure for this sale can be found here. Insiders have sold 6,050 shares of company stock worth $626,158 over the last three months. 0.57% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of Diamondback Energy by 103.8% during the fourth quarter. BlackRock Inc. now owns 10,172,829 shares of the oil and natural gas company’s stock valued at $943,023,000 after buying an additional 5,181,063 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Diamondback Energy by 28,126.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock valued at $32,000 after buying an additional 2,971,317 shares during the last quarter. Boston Partners grew its stake in shares of Diamondback Energy by 135.9% during the fourth quarter. Boston Partners now owns 3,424,654 shares of the oil and natural gas company’s stock valued at $317,465,000 after buying an additional 1,973,018 shares during the last quarter. Norges Bank bought a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $141,883,000. Finally, Geode Capital Management LLC grew its stake in shares of Diamondback Energy by 128.1% during the fourth quarter. Geode Capital Management LLC now owns 2,040,175 shares of the oil and natural gas company’s stock valued at $188,797,000 after buying an additional 1,145,573 shares during the last quarter.
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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