After MKM Partners and Citigroup gave Diamondback (NASDAQ: FANG) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Jeff Grampp maintained a Buy rating on Diamondback today and set a price target of $36.00. The company’s shares closed last Monday at $18.69, close to its 52-week low of $14.55.
According to TipRanks.com, Grampp is ranked 0 out of 5 stars with an average return of -44.6% and a 13.8% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Lonestar Resources US, and SilverBow Resources.
Currently, the analyst consensus on Diamondback is a Strong Buy with an average price target of $79.33, implying a 399.6% 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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Diamondback’s market cap is currently $2.96B and has a P/E ratio of 13.42. The company has a Price to Book ratio of 0.22.
Based on the recent corporate insider activity of 28 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.
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