After J.P. Morgan and Citigroup gave Diamondback (NASDAQ: FANG) a Buy rating last month, the company received another Buy, this time from KeyBanc. Analyst Leo Mariani maintained a Buy rating on Diamondback today and set a price target of $125.00. The company’s shares closed last Monday at $83.96, close to its 52-week low of $80.75.
According to TipRanks.com, Mariani is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -10.7% and a 29.9% success rate. Mariani covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Jagged Peak Energy Inc, and Whiting Petroleum Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Diamondback with a $138.42 average price target, a 68.4% upside from current levels. In a report issued on October 1, Susquehanna also reiterated a Buy rating on the stock with a $125.00 price target.
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Based on Diamondback’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.02 billion and net profit of $349 million. In comparison, last year the company had a net profit of $157 million.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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 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.
