Diamondback Energy (NASDAQ:FANG) Downgraded to Sell Rating by StockNews.com

Diamondback Energy (NASDAQ:FANG) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Several other analysts have also recently weighed in on FANG. Citigroup initiated coverage on shares of Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 price objective on the stock. UBS Group dropped their price objective on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Scotiabank decreased their price objective on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their target price for the company from $205.00 to $215.00 in a research report on Friday, October 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.09.

Diamondback Energy Stock Down 2.3 %

Shares of Diamondback Energy stock traded down $4.13 during trading hours on Tuesday, reaching $175.63. 3,690,217 shares of the company’s stock were exchanged, compared to its average volume of 1,739,715. The company has a 50 day moving average of $182.56 and a two-hundred day moving average of $192.61. Diamondback Energy has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The stock has a market cap of $51.77 billion, a P/E ratio of 9.08, a P/E/G ratio of 1.23 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $5.49 earnings per share. On average, sell-side analysts forecast that Diamondback Energy will post 17.1 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Institutional investors have recently modified their holdings of the stock. First Community Trust NA purchased a new position in Diamondback Energy during the second quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC grew its holdings in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Diamondback Energy in the second quarter worth $40,000. Values First Advisors Inc. purchased a new position in Diamondback Energy in the third quarter worth $42,000. Finally, Founders Capital Management grew its holdings in Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Company Profile

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.