Diamondback Energy (NASDAQ:FANG) Given a $156.00 Price Target by Piper Jaffray Companies Analysts

Diamondback Energy (NASDAQ:FANG) has been assigned a $156.00 target price by Piper Jaffray Companies in a note issued to investors on Friday, TipRanks reports. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 56.06% from the company’s current price. Piper Jaffray Companies also issued estimates for Diamondback Energy’s Q3 2019 earnings at $1.69 EPS, Q4 2019 earnings at $1.82 EPS, FY2019 earnings at $6.36 EPS, Q1 2020 earnings at $2.09 EPS, Q2 2020 earnings at $2.03 EPS, Q3 2020 earnings at $2.10 EPS and Q4 2020 earnings at $2.18 EPS.

FANG has been the subject of several other reports. Royal Bank of Canada reiterated a “buy” rating and issued a $156.00 target price on shares of Diamondback Energy in a research note on Sunday, August 11th. Bank of America upped their target price on Diamondback Energy from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. ValuEngine lowered Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Northland Securities reiterated a “buy” rating and issued a $150.00 target price on shares of Diamondback Energy in a research note on Wednesday, August 7th. Finally, Oppenheimer set a $151.00 target price on Diamondback Energy and gave the company a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $156.57.

Shares of NASDAQ:FANG traded up $2.70 on Friday, hitting $99.96. The company had a trading volume of 1,115,017 shares, compared to its average volume of 1,784,928. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. Diamondback Energy has a 52-week low of $85.19 and a 52-week high of $140.78. The business has a 50 day moving average of $102.56 and a 200 day moving average of $103.24. The company has a market cap of $15.62 billion, a PE ratio of 17.03, a PEG ratio of 0.64 and a beta of 0.82.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.04). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The business’s revenue for the quarter was up 93.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.59 earnings per share. As a group, equities analysts predict that Diamondback Energy will post 7.27 EPS for the current year.

In other Diamondback Energy news, CEO Travis D. Stice purchased 4,186 shares of Diamondback Energy stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $95.55 per share, with a total value of $399,972.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Russell Pantermuehl sold 5,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $107.28, for a total value of $536,400.00. Following the completion of the transaction, the vice president now directly owns 112,107 shares of the company’s stock, valued at approximately $12,026,838.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,500 shares of company stock valued at $1,258,505. Insiders own 0.47% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Securian Asset Management Inc boosted its holdings in Diamondback Energy by 0.6% in the first quarter. Securian Asset Management Inc now owns 16,116 shares of the oil and natural gas company’s stock valued at $1,636,000 after purchasing an additional 95 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in Diamondback Energy by 7.6% during the 1st quarter. Penserra Capital Management LLC now owns 1,438 shares of the oil and natural gas company’s stock worth $145,000 after buying an additional 102 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Diamondback Energy by 0.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 25,041 shares of the oil and natural gas company’s stock worth $2,727,000 after buying an additional 103 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in Diamondback Energy by 2.0% during the 1st quarter. LS Investment Advisors LLC now owns 5,533 shares of the oil and natural gas company’s stock worth $562,000 after buying an additional 106 shares during the last quarter. Finally, Creative Planning lifted its holdings in Diamondback Energy by 3.9% during the 1st quarter. Creative Planning now owns 3,186 shares of the oil and natural gas company’s stock worth $323,000 after buying an additional 121 shares during the last quarter. 99.35% of the stock is owned by hedge funds and other institutional investors.

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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