Investment analysts at Credit Suisse Group began coverage on shares of Diamondback Energy (NASDAQ:FANG) in a research note issued to investors on Monday, The Fly reports. The firm set an “outperform” rating on the oil and natural gas company’s stock.
Several other equities analysts also recently weighed in on the company. BidaskClub upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. ValuEngine downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. Bank of America reiterated a “buy” rating and set a $165.00 target price (up from $154.00) on shares of Diamondback Energy in a research report on Tuesday, April 16th. Northland Securities restated a “buy” rating and issued a $150.00 price objective on shares of Diamondback Energy in a research report on Friday, March 29th. Finally, Williams Capital set a $165.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $160.74.
Shares of FANG opened at $98.95 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.62 and a quick ratio of 0.59. Diamondback Energy has a one year low of $85.19 and a one year high of $140.78. The firm has a market capitalization of $16.29 billion, a P/E ratio of 16.86, a PEG ratio of 0.59 and a beta of 0.83.
In other news, VP Russell Pantermuehl sold 5,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $112.18, for a total transaction of $560,900.00. Following the completion of the sale, the vice president now owns 117,107 shares in the company, valued at approximately $13,137,063.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $25,000. Berman Capital Advisors LLC grew its position in Diamondback Energy by 180.8% during the 1st 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 during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Diamondback Energy by 28,126.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock worth $32,000 after acquiring an additional 2,971,317 shares in the last quarter. Manchester Capital Management LLC purchased a new position in Diamondback Energy in the 1st quarter valued at about $34,000. Finally, Rehmann Capital Advisory Group lifted its stake in Diamondback Energy by 114.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 401 shares of the oil and natural gas company’s stock valued at $37,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 98.84% 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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