Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Diamondback Energy (FANG) Share Price
News headlines about Diamondback Energy (NASDAQ:FANG) have trended somewhat positive this week, Accern Sentiment Analysis reports. The research group scores the sentiment of news coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Diamondback Energy earned a daily sentiment score of 0.20 on Accern’s scale. Accern also assigned press coverage about the oil and natural gas company an impact score of 45.4102035740934 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Several equities research analysts have weighed in on FANG shares. BMO Capital Markets set a $110.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, October 10th. Scotiabank reissued a “buy” rating and issued a $118.00 price target on shares of Diamondback Energy in a research report on Wednesday, November 22nd. Morgan Stanley boosted their price target on Diamondback Energy from $118.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Piper Jaffray Companies reissued a “buy” rating and issued a $138.00 price target on shares of Diamondback Energy in a research report on Tuesday. Finally, Citigroup began coverage on Diamondback Energy in a research report on Friday, December 1st. They issued a “buy” rating and a $130.00 price target for the company. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $125.42.
Shares of Diamondback Energy (FANG) traded up $0.24 during trading hours on Friday, reaching $130.14. The company had a trading volume of 1,031,170 shares, compared to its average volume of 1,130,000. Diamondback Energy has a 12 month low of $82.77 and a 12 month high of $132.07. The firm has a market cap of $12,770.00, a price-to-earnings ratio of 31.51, a P/E/G ratio of 0.74 and a beta of 1.08. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The company had revenue of $301.30 million for the quarter, compared to analyst estimates of $296.53 million. During the same period in the prior year, the company posted ($0.03) EPS. The firm’s quarterly revenue was up 112.0% compared to the same quarter last year. equities analysts predict that Diamondback Energy will post 5.07 earnings per share for the current fiscal year.
In related news, insider Michael L. Hollis sold 2,000 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $102.44, for a total transaction of $204,880.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Russell Pantermuehl sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $109.55, for a total value of $438,200.00. Following the transaction, the vice president now directly owns 64,214 shares in the company, valued at $7,034,643.70. The disclosure for this sale can be found here. Insiders have sold a total of 78,400 shares of company stock worth $9,361,210 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.
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.
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