Diamondback Energy, Inc. (NASDAQ:FANG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Diamondback Energy, Inc. is an oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. The Company’s activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations. Diamondback Energy, Inc. is headquartered in Midland, Texas. “

A number of other brokerages also recently weighed in on FANG. BidaskClub downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Roth Capital boosted their price objective on Diamondback Energy from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. BMO Capital Markets set a $100.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, August 1st. Northland Securities set a $125.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Monday, July 17th. Finally, Morgan Stanley boosted their price objective on Diamondback Energy from $118.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company’s stock. Diamondback Energy has an average rating of “Buy” and a consensus price target of $123.96.

Shares of Diamondback Energy (FANG) traded up $0.83 during midday trading on Thursday, reaching $111.86. The company’s stock had a trading volume of 1,002,000 shares, compared to its average volume of 1,059,733. The firm has a market capitalization of $10,980.96, a P/E ratio of 23.95, a PEG ratio of 0.82 and a beta of 1.10. The company has a current ratio of 0.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $114.93.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.31. The firm had revenue of $301.30 million for the quarter, compared to the consensus estimate of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The business’s revenue was up 112.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) earnings per share. equities analysts forecast that Diamondback Energy will post 5.01 EPS for the current fiscal year.

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In other Diamondback Energy news, insider Michael L. Hollis sold 2,000 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael L. Hollis sold 1,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $100.00, for a total value of $100,000.00. The disclosure for this sale can be found here. Insiders have sold 14,805 shares of company stock valued at $1,449,381 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Several large investors have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Diamondback Energy by 1.6% during the second quarter. FMR LLC now owns 11,609,146 shares of the oil and natural gas company’s stock worth $1,031,009,000 after buying an additional 185,890 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Diamondback Energy by 8.9% during the second quarter. Vanguard Group Inc. now owns 7,988,153 shares of the oil and natural gas company’s stock worth $709,428,000 after buying an additional 651,353 shares in the last quarter. Boston Partners increased its holdings in shares of Diamondback Energy by 18.1% during the third quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock worth $771,379,000 after buying an additional 1,208,864 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Diamondback Energy by 20.1% during the second quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock worth $677,951,000 after buying an additional 1,278,802 shares in the last quarter. Finally, Warburg Pincus LLC increased its holdings in shares of Diamondback Energy by 132.4% during the second quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock worth $580,188,000 after buying an additional 3,721,519 shares in the last quarter.

About Diamondback Energy

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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