Diamondback Energy (NASDAQ:FANG) Upgraded at TD Cowen

TD Cowen upgraded shares of Diamondback Energy (NASDAQ:FANG) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. UBS Group lifted their price target on shares of Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Mizuho dropped their target price on Diamondback Energy from $195.00 to $194.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd. Scotiabank set a $175.00 target price on Diamondback Energy in a research note on Friday, January 16th. Susquehanna decreased their price target on Diamondback Energy to $188.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Finally, Sanford C. Bernstein dropped their price objective on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Buy” and a consensus price target of $185.90.

Diamondback Energy Trading Up 2.5%

FANG opened at $169.01 on Monday. The stock has a 50-day moving average of $154.27 and a 200 day moving average of $147.64. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. Diamondback Energy has a 12 month low of $114.00 and a 12 month high of $170.54. The firm has a market cap of $48.40 billion, a P/E ratio of 11.74 and a beta of 0.63.

Insider Activity at Diamondback Energy

In related news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $162.88, for a total value of $162,880,000.00. Following the transaction, the insider owned 98,686,727 shares of the company’s stock, valued at $16,074,094,093.76. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Alvin Meloy sold 377,911 shares of Diamondback Energy stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the sale, the director directly owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. This trade represents a 26.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,438,516 shares of company stock worth $225,026,921. 0.70% of the stock is owned by insiders.

Institutional Trading of Diamondback Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new position in Diamondback Energy during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. lifted its position in shares of Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 125 shares during the period. Laurel Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new position in Diamondback Energy during the third quarter valued at approximately $26,000. Finally, Creekmur Asset Management LLC bought a new position in Diamondback Energy in the second quarter worth approximately $28,000. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.