Diamondback Energy (NASDAQ:FANG) Receives “Buy” Rating from Williams Capital
Diamondback Energy (NASDAQ:FANG)‘s stock had its “buy” rating reiterated by stock analysts at Williams Capital in a research report issued to clients and investors on Tuesday, AnalystRatings.com reports. They presently have a $165.00 target price on the oil and natural gas company’s stock. Williams Capital’s price objective suggests a potential upside of 60.46% from the company’s current price.
Other analysts also recently issued reports about the company. Roth Capital reduced their target price on Diamondback Energy from $166.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Morgan Stanley set a $207.00 target price on Alibaba Group and gave the company a “buy” rating in a research note on Friday, July 12th. KeyCorp began coverage on Pluralsight in a research note on Tuesday, July 16th. They issued an “overweight” rating and a $40.00 target price for the company. MKM Partners began coverage on Diamondback Energy in a research note on Friday, June 28th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada restated a “buy” rating and issued a $2.50 target price on shares of in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and three have assigned 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.
Diamondback Energy stock traded up $3.10 during trading hours on Tuesday, reaching $102.83. 1,311,876 shares of the company’s stock were exchanged, compared to its average volume of 1,731,163. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.62 and a quick ratio of 0.59. The stock’s 50 day moving average price is $105.18. Diamondback Energy has a twelve month low of $85.19 and a twelve month high of $140.78. The firm has a market cap of $16.79 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.66 and a beta of 0.85.
In related news, VP Russell Pantermuehl sold 5,000 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 112,107 shares in the company, valued at $12,026,838.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $107.47, for a total transaction of $161,205.00. Following the completion of the sale, 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. Over the last quarter, insiders have sold 11,500 shares of company stock valued at $1,258,505. Insiders own 0.47% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Archford Capital Strategies LLC grew 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 valued at $26,000 after purchasing an additional 220 shares during the period. Berman Capital Advisors LLC increased its position in shares of 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 last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $32,000. Manchester Capital Management LLC acquired a new position in shares of Diamondback Energy during the 1st quarter worth approximately $34,000. Finally, Somerset Trust Co increased its holdings in shares of Diamondback Energy by 162.6% during the 1st quarter. Somerset Trust Co now owns 617 shares of the oil and natural gas company’s stock worth $63,000 after acquiring an additional 382 shares during the last quarter. Hedge funds and other institutional investors own 99.24% 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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