Merrill Lynch Reaffirms Their Buy Rating on Diamondback (FANG)
In a report released today, Asit Sen from Merrill Lynch reiterated a Buy rating on Diamondback (FANG), with a price target of $165. The company’s shares opened today at $106.55.
According to TipRanks.com, Sen is ranked #2188 out of 5187 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Diamondback with a $155.86 average price target.
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Based on Diamondback’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $307 million. In comparison, last year the company had a net profit of $163 million.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock.
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Diamondback Energy, Inc. is independent oil and natural gas company. The firm engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It focuses on the Permian Basin. The company was founded in December 2007 and is headquartered in Midland, TX.