Stifel Nicolaus analyst Derrick Whitfield reiterated a Buy rating on Diamondback (NASDAQ: FANG) today and set a price target of $166. The company’s shares closed yesterday at $130.59, close to its 52-week high of $138.25.
According to TipRanks.com, Whitfield is a 3-star analyst with an average return of 1.4% and a 55.6% success rate. Whitfield covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Continental Resources, and Northern Oil And Gas.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Diamondback with a $158.78 average price target, representing a 21.6% upside. In a report issued on July 9, Jefferies also reiterated a Buy rating on the stock with a $183 price target.
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Based on Diamondback’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $163 million. In comparison, last year the company had a net profit of $158 million.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock.
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Diamondback Energy, Inc. is an oil and natural gas company, which engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. The company was founded in December 2007 and is headquartered in Midland, TX.
