Diamondback Energy (NASDAQ:FANG – Get Free Report) will be releasing its earnings data after the market closes on Tuesday, February 20th. Analysts expect Diamondback Energy to post earnings of $5.30 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.
Diamondback Energy Stock Performance
FANG stock opened at $165.98 on Tuesday. The firm has a market cap of $29.71 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.37 and a beta of 1.89. The firm has a 50-day simple moving average of $153.56 and a two-hundred day simple moving average of $154.36. Diamondback Energy has a one year low of $119.01 and a one year high of $171.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 0.89.
Wall Street Analysts Forecast Growth
FANG has been the topic of a number of analyst reports. Citigroup cut shares of Diamondback Energy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $160.00 to $170.00 in a research note on Monday, October 23rd. UBS Group decreased their target price on Diamondback Energy from $198.00 to $183.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Susquehanna decreased their target price on Diamondback Energy from $203.00 to $190.00 and set a “positive” rating on the stock in a research report on Friday, January 26th. Bank Of America (Bofa) decreased their target price on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research report on Thursday, January 18th. Finally, KeyCorp decreased their target price on Diamondback Energy from $183.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $177.59.
Hedge Funds Weigh In On Diamondback Energy
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in shares of Diamondback Energy by 5.2% in the 4th quarter. International Assets Investment Management LLC now owns 1,717 shares of the oil and natural gas company’s stock valued at $266,000 after buying an additional 85 shares during the period. Savant Capital LLC boosted its stake in shares of Diamondback Energy by 5.0% in the 4th quarter. Savant Capital LLC now owns 2,049 shares of the oil and natural gas company’s stock valued at $277,000 after buying an additional 97 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Diamondback Energy by 4.9% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,343 shares of the oil and natural gas company’s stock valued at $282,000 after buying an additional 110 shares during the period. Harbour Investments Inc. boosted its stake in shares of Diamondback Energy by 85.4% in the 3rd quarter. Harbour Investments Inc. now owns 293 shares of the oil and natural gas company’s stock valued at $45,000 after buying an additional 135 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in Diamondback Energy by 30.9% during the first quarter. Parkside Financial Bank & Trust now owns 619 shares of the oil and natural gas company’s stock worth $84,000 after purchasing an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.
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 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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