Investment analysts at Imperial Capital assumed coverage on shares of Diamondback Energy, Inc. (NASDAQ:FANG) in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $110.00 price target on the oil and natural gas company’s stock. Imperial Capital’s price target would indicate a potential upside of 17.11% from the stock’s previous close.

A number of other analysts also recently commented on FANG. Zacks Investment Research downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 4th. Stifel Nicolaus began coverage on Diamondback Energy in a research note on Wednesday, April 12th. They issued a “buy” rating and a $123.00 price objective on the stock. Barclays PLC reissued an “equal weight” rating and issued a $110.00 price objective (down previously from $123.00) on shares of Diamondback Energy in a research note on Saturday, April 22nd. UBS AG assumed coverage on Diamondback Energy in a research note on Thursday, March 23rd. They issued a “neutral” rating and a $114.00 price objective on the stock. Finally, Scotiabank reaffirmed a “buy” rating and set a $121.00 target price on shares of Diamondback Energy in a research report on Thursday, May 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the company. Diamondback Energy presently has an average rating of “Buy” and an average price target of $116.12.

Shares of Diamondback Energy (FANG) opened at 93.93 on Tuesday. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $114.00. The stock has a 50 day moving average price of $88.98 and a 200 day moving average price of $99.16. The firm has a market capitalization of $9.22 billion, a P/E ratio of 1998.51 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.43. Diamondback Energy had a return on equity of 6.51% and a net margin of 0.62%. The business had revenue of $235.23 million during the quarter, compared to analyst estimates of $218.62 million. Equities analysts anticipate that Diamondback Energy will post $4.42 earnings per share for the current fiscal year.

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In other news, Director Steven E. West purchased 2,400 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was purchased at an average price of $103.45 per share, with a total value of $248,280.00. Following the acquisition, the director now directly owns 2,400 shares in the company, valued at approximately $248,280. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark Lawrence Plaumann sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total value of $101,520.00. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Viking Fund Management LLC boosted its position in shares of Diamondback Energy by 65.6% in the second quarter. Viking Fund Management LLC now owns 207,000 shares of the oil and natural gas company’s stock worth $18,384,000 after buying an additional 82,000 shares during the last quarter. Aperio Group LLC boosted its position in shares of Diamondback Energy by 33.4% in the second quarter. Aperio Group LLC now owns 28,391 shares of the oil and natural gas company’s stock worth $2,521,000 after buying an additional 7,111 shares during the last quarter. CWM LLC boosted its position in shares of Diamondback Energy by 5.7% in the second quarter. CWM LLC now owns 13,645 shares of the oil and natural gas company’s stock worth $1,212,000 after buying an additional 734 shares during the last quarter. CENTRAL TRUST Co boosted its position in shares of Diamondback Energy by 11.2% in the second quarter. CENTRAL TRUST Co now owns 41,113 shares of the oil and natural gas company’s stock worth $3,651,000 after buying an additional 4,145 shares during the last quarter. Finally, Denali Advisors LLC boosted its position in shares of Diamondback Energy by 7.4% in the second quarter. Denali Advisors LLC now owns 11,600 shares of the oil and natural gas company’s stock worth $1,030,000 after buying an additional 800 shares during the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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