Williams Capital analyst Gabriele Sorbara maintained a Buy rating on Diamondback (FANG) on August 19 and set a price target of $158. The company’s shares closed last Monday at $100.10.
According to TipRanks.com, Sorbara ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -14.9% and a 29.3% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Jagged Peak Energy Inc, Gulfport Energy Corp, and Extraction Oil & Gas.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Diamondback with a $146.18 average price target, implying a 52.3% upside from current levels. In a report issued on August 7, Northland Securities also reiterated a Buy rating on the stock with a $150 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 $219 million.
Based on the recent corporate insider activity of 56 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.
