Diamondback Energy (NASDAQ:FANG – Get Free Report) is set to issue its quarterly earnings data after the market closes on Tuesday, February 20th. Analysts expect the company to announce earnings of $5.30 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.
Diamondback Energy Stock Performance
FANG stock opened at $165.98 on Tuesday. The business’s fifty day moving average is $153.56 and its 200-day moving average is $154.36. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.37. The company has a market cap of $29.71 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 0.37 and a beta of 1.89. Diamondback Energy has a twelve month low of $119.01 and a twelve month high of $171.40.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on FANG. Piper Sandler reduced their price target on Diamondback Energy from $206.00 to $201.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Mizuho cut their price objective on shares of Diamondback Energy from $178.00 to $177.00 and set a “buy” rating for the company in a research report on Friday, January 12th. Morgan Stanley dropped their price target on shares of Diamondback Energy from $171.00 to $169.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Stifel Nicolaus dropped their price target on shares of Diamondback Energy from $194.00 to $192.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Finally, Bank of America upgraded shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $129.00 to $170.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.59.
Institutional Trading of Diamondback Energy
Several institutional investors have recently modified their holdings of FANG. FinTrust Capital Advisors LLC boosted its position in Diamondback Energy by 232.8% during the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock valued at $29,000 after acquiring an additional 149 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its position in Diamondback Energy by 366.7% during the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 176 shares during the last quarter. IMA Wealth Inc. bought a new stake in Diamondback Energy during the second quarter valued at $33,000. Harbour Investments Inc. boosted its position in Diamondback Energy by 85.4% during the third quarter. Harbour Investments Inc. now owns 293 shares of the oil and natural gas company’s stock valued at $45,000 after acquiring an additional 135 shares during the last quarter. Finally, Samalin Investment Counsel LLC bought a new stake in Diamondback Energy during the first quarter valued at $48,000. 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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