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Benchmark Reiterates "Buy" Rating for Diamondback Energy (NASDAQ:FANG)

Diamondback Energy logo with Oils/Energy background

Diamondback Energy (NASDAQ:FANG - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Benchmark in a research note issued to investors on Thursday, Benzinga reports. They currently have a $154.00 target price on the oil and natural gas company's stock. Benchmark's price target suggests a potential downside of 20.10% from the stock's previous close.

Several other brokerages have also recently issued reports on FANG. Susquehanna boosted their price target on shares of Diamondback Energy from $212.00 to $245.00 and gave the company a "positive" rating in a research report on Monday, April 22nd. Barclays initiated coverage on Diamondback Energy in a research report on Wednesday, April 10th. They set an "equal weight" rating and a $214.00 price target on the stock. StockNews.com downgraded Diamondback Energy from a "buy" rating to a "hold" rating in a report on Wednesday. Truist Financial raised their price objective on Diamondback Energy from $248.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, April 22nd. Finally, Morgan Stanley reduced their target price on shares of Diamondback Energy from $186.00 to $184.00 and set an "overweight" rating on the stock in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $209.35.


Check Out Our Latest Research Report on Diamondback Energy

Diamondback Energy Trading Up 2.0 %

NASDAQ:FANG traded up $3.86 during mid-day trading on Thursday, reaching $192.73. 1,959,378 shares of the company's stock traded hands, compared to its average volume of 1,634,551. The company has a 50 day moving average price of $197.44 and a 200-day moving average price of $179.28. The firm has a market capitalization of $34.37 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 1.03 and a beta of 1.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. Diamondback Energy has a 12-month low of $123.41 and a 12-month high of $211.96.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.21. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business's revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.10 earnings per share. On average, sell-side analysts predict that Diamondback Energy will post 19.05 earnings per share for the current year.

Insider Activity

In other news, VP Jere W. Thompson III sold 900 shares of the company's stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now owns 7,585 shares of the company's stock, valued at approximately $1,516,241.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Daniel N. Wesson sold 6,000 shares of the company's stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total value of $1,182,840.00. Following the completion of the transaction, the chief operating officer now owns 69,677 shares of the company's stock, valued at approximately $13,736,123.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jere W. Thompson III sold 900 shares of the firm's stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the sale, the vice president now directly owns 7,585 shares in the company, valued at $1,516,241.50. The disclosure for this sale can be found here. Insiders sold 36,900 shares of company stock valued at $7,362,750 over the last three months. Insiders own 0.48% of the company's stock.

Institutional Trading of Diamondback Energy

Institutional investors have recently made changes to their positions in the business. Founders Capital Management grew its position in shares of Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company's stock valued at $25,000 after purchasing an additional 101 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of Diamondback Energy in the fourth quarter valued at $27,000. Logan Capital Management Inc. bought a new stake in Diamondback Energy in the fourth quarter worth $31,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Diamondback Energy during the fourth quarter valued at $34,000. Finally, CVA Family Office LLC bought a new position in Diamondback Energy during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Company Profile

(Get Free Report)

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It 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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