In a report released yesterday, Jeanine Wai from Barclays maintained a Buy rating on Diamondback (FANG), with a price target of $34.00. The company’s shares closed last Monday at $24.12, close to its 52-week low of $14.55.
According to TipRanks.com, Wai has currently no stars on a ranking scale of 0-5 stars, with an average return of -30.4% and a 15.7% success rate. Wai covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Occidental Petroleum.
Currently, the analyst consensus on Diamondback is a Strong Buy with an average price target of $69.24, implying a 211.2% upside from current levels. In a report issued on March 9, RBC Capital also maintained a Buy rating on the stock with a $60.00 price target.
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The company has a one-year high of $114.14 and a one-year low of $14.55. Currently, Diamondback has an average volume of 3.53M.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FANG in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Diamondback Energy, Inc. is an independent oil and natural gas company, which engages in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas. The Midstream Services segment involves in the Midland and Delaware Basins. The company was founded in December 2007 and is headquartered in Midland, TX.
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