Diamondback Energy, Inc. (NASDAQ:FANG) Receives Average Rating of “Buy” from Analysts

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have been assigned a consensus rating of “Buy” from the twenty-three ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $185.9048.

A number of brokerages have recently issued reports on FANG. UBS Group upped their target price on shares of Diamondback Energy from $174.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a report on Monday, December 29th. Jefferies Financial Group reaffirmed a “hold” rating and set a $173.00 target price on shares of Diamondback Energy in a report on Monday, January 19th. Sanford C. Bernstein decreased their target price on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Finally, Mizuho dropped their price target on Diamondback Energy from $195.00 to $194.00 and set an “outperform” rating on the stock in a research report on Thursday, January 22nd.

Diamondback Energy Stock Up 0.7%

Shares of NASDAQ:FANG opened at $176.01 on Monday. Diamondback Energy has a 12-month low of $114.00 and a 12-month high of $177.02. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. The firm has a market cap of $50.41 billion, a PE ratio of 12.23 and a beta of 0.63. The company has a fifty day simple moving average of $156.09 and a 200 day simple moving average of $148.77.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 60,605 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $161.12, for a total transaction of $9,764,677.60. Following the sale, the director directly owned 982,006 shares of the company’s stock, valued at approximately $158,220,806.72. This represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of Diamondback Energy stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total transaction of $162,880,000.00. Following the completion of the transaction, the insider directly owned 98,686,727 shares of the company’s stock, valued at $16,074,094,093.76. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,438,516 shares of company stock valued at $225,026,921. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Diamondback Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commerzbank Aktiengesellschaft FI lifted its position in shares of Diamondback Energy by 233.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 12,673 shares of the oil and natural gas company’s stock worth $1,814,000 after purchasing an additional 8,877 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Diamondback Energy by 9.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,733 shares of the oil and natural gas company’s stock worth $16,848,000 after acquiring an additional 10,289 shares during the last quarter. Moloney Securities Asset Management LLC acquired a new position in Diamondback Energy during the third quarter valued at approximately $472,000. Massachusetts Financial Services Co. MA grew its holdings in Diamondback Energy by 9.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,385,428 shares of the oil and natural gas company’s stock valued at $198,255,000 after purchasing an additional 122,921 shares during the period. Finally, WoodTrust Financial Corp bought a new stake in Diamondback Energy in the third quarter valued at approximately $1,624,000. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.