Diamondback Energy (NASDAQ:FANG) PT Lowered to $110.00 at Raymond James

Diamondback Energy (NASDAQ:FANG) had its price target trimmed by Raymond James from $120.00 to $110.00 in a report issued on Thursday, The Fly reports. The brokerage currently has a strong-buy rating on the oil and natural gas company’s stock.

FANG has been the subject of several other reports. Wells Fargo & Co decreased their price objective on shares of Diamondback Energy from $171.00 to $168.00 and set an outperform rating for the company in a research report on Friday, September 20th. Royal Bank of Canada decreased their price objective on shares of Diamondback Energy from $140.00 to $135.00 and set an outperform rating for the company in a research report on Wednesday. Roth Capital raised their price target on shares of Diamondback Energy from $140.00 to $147.00 and gave the stock a buy rating in a report on Wednesday, October 9th. Northland Securities restated a buy rating and issued a $130.00 price target on shares of Diamondback Energy in a report on Wednesday. Finally, Williams Capital restated a buy rating and issued a $165.00 price target on shares of Diamondback Energy in a report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $141.05.

NASDAQ:FANG traded down $0.13 on Thursday, hitting $75.43. The company had a trading volume of 2,379,700 shares, compared to its average volume of 1,849,165. Diamondback Energy has a 52 week low of $74.25 and a 52 week high of $115.97. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $86.38 and a two-hundred day moving average of $98.30. The stock has a market capitalization of $14.71 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 0.47 and a beta of 0.78.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.24). Diamondback Energy had a return on equity of 6.09% and a net margin of 29.59%. The firm had revenue of $975.00 million for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the company earned $1.67 earnings per share. The company’s quarterly revenue was up 81.6% compared to the same quarter last year. As a group, equities analysts forecast that Diamondback Energy will post 6.75 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 15th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s payout ratio is 12.78%.

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In other news, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $100.25, for a total transaction of $501,250.00. Following the completion of the transaction, the vice president now directly owns 105,107 shares in the company, valued at $10,536,976.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael L. Hollis sold 2,000 shares of Diamondback Energy stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $102.25, for a total transaction of $204,500.00. The disclosure for this sale can be found here. Insiders have sold 16,000 shares of company stock valued at $1,621,690 over the last quarter. Corporate insiders own 0.47% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FANG. Nuveen Asset Management LLC acquired a new position in shares of Diamondback Energy during the second quarter valued at about $303,291,000. BlackRock Inc. grew its holdings in shares of Diamondback Energy by 4.7% during the second quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock valued at $1,167,931,000 after buying an additional 485,647 shares during the last quarter. Balyasny Asset Management LLC grew its holdings in shares of Diamondback Energy by 14,382.5% during the second quarter. Balyasny Asset Management LLC now owns 468,943 shares of the oil and natural gas company’s stock valued at $51,101,000 after buying an additional 465,705 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Diamondback Energy by 47.5% during the second quarter. Point72 Asset Management L.P. now owns 1,406,516 shares of the oil and natural gas company’s stock valued at $153,268,000 after buying an additional 453,267 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Diamondback Energy by 43.2% during the second quarter. Bessemer Group Inc. now owns 941,887 shares of the oil and natural gas company’s stock valued at $102,638,000 after buying an additional 284,343 shares during the last quarter. Hedge funds and other institutional investors own 99.27% 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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