Williams Capital Reaffirms Their Buy Rating on Diamondback (FANG)


Williams Capital analyst Gabriele Sorbara reiterated a Buy rating on Diamondback (FANG) today and set a price target of $165. The company’s shares opened today at $102.83.

According to TipRanks.com, Sorbara ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -14.8% and a 27.9% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Jagged Peak Energy Inc, Gulfport Energy Corp, and Extraction Oil & Gas.

Currently, the analyst consensus on Diamondback is a Strong Buy with an average price target of $151.82, implying a 47.6% upside from current levels. In a report issued on July 18, RBC Capital also initiated coverage with a Buy rating on the stock with a $156 price target.

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Based on Diamondback’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $864 million and net profit of $10 million. In comparison, last year the company had a net profit of $219 million.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock.

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.

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