Another Recommendation On Wall Street for Diamondback (NASDAQ:FANG). This time with a $123.0 Share Target Price

March 31, 2018 - By Adrian Erickson

Investors sentiment decreased to 1.17 in Q4 2017. Its down 0.36, from 1.53 in 2017Q3. It dropped, as 49 investors sold Diamondback Energy, Inc. shares while 113 reduced holdings. 72 funds opened positions while 117 raised stakes. 99.08 million shares or 5.50% less from 104.84 million shares in 2017Q3 were reported.

Fdx Advisors Incorporated holds 0.04% of its portfolio in Diamondback Energy, Inc. (NASDAQ:FANG) for 11,446 shares. State Bank Of Ny Mellon Corp accumulated 757,322 shares. Lpl Financial Ltd Liability Com has invested 0% in Diamondback Energy, Inc. (NASDAQ:FANG). Artisan Partnership invested in 0.47% or 1.95 million shares. Columbia Wanger Asset Lc has invested 0.38% in Diamondback Energy, Inc. (NASDAQ:FANG). Westwood Holdings Grp Incorporated has invested 0.49% of its portfolio in Diamondback Energy, Inc. (NASDAQ:FANG). Moreover, Employees Retirement Association Of Colorado has 0.02% invested in Diamondback Energy, Inc. (NASDAQ:FANG). Moreover, Lord Abbett & Co Lc has 0.07% invested in Diamondback Energy, Inc. (NASDAQ:FANG) for 206,304 shares. State Common Retirement Fund invested 0.05% in Diamondback Energy, Inc. (NASDAQ:FANG). 255,012 were reported by Royal Fincl Bank Of Canada. Westfield Capital Mngmt Co Lp accumulated 318,545 shares or 0.31% of the stock. 9,984 are owned by Dana Invest Advisors. Hwg Holdg L P reported 0.94% of its portfolio in Diamondback Energy, Inc. (NASDAQ:FANG). Tobam invested in 2,852 shares. Td Asset Mngmt accumulated 0.01% or 33,878 shares.

Since October 2, 2017, it had 0 insider purchases, and 17 selling transactions for $24.22 million activity. 2,000 shares valued at $204,874 were sold by Hollis Michael L. on Monday, October 16. Another trade for 87,150 shares valued at $10.91M was sold by Stice Travis D.. Dick Teresa L. sold $843,801 worth of stock or 6,733 shares. Molnar Paul sold 10,000 shares worth $1.30M. Shares for $23,128 were sold by Soliman Jennifer on Friday, February 16. Shares for $2.98 million were sold by Pantermuehl Russell on Friday, February 16.

Why Has Credit Suisse Given Diamondback (NASDAQ:FANG) a $123.0 Price Target

Credit Suisse started its coverage for Diamondback (NASDAQ:FANG), this morning Monday, 11 December. The research firm found the stock of FANG quite attractive and now has a PT of $123.0 with a key “Buy” rating.

Diamondback Energy, Inc. (NASDAQ:FANG) Ratings Coverage

Among 22 analysts covering Diamondback (NASDAQ:FANG), 19 have Buy rating, 0 Sell and 3 Hold. Therefore 86% are positive. Diamondback has $167 highest and $110.0 lowest target. $145.23’s average target is 14.79% above currents $126.52 stock price. Diamondback had 44 analyst reports since October 3, 2017 according to SRatingsIntel. As per Monday, December 11, the company rating was initiated by Credit Suisse. Imperial Capital maintained Diamondback Energy, Inc. (NASDAQ:FANG) rating on Wednesday, November 8. Imperial Capital has “Outperform” rating and $130 target. Mizuho maintained the stock with “Buy” rating in Tuesday, January 16 report. BMO Capital Markets maintained Diamondback Energy, Inc. (NASDAQ:FANG) on Tuesday, October 10 with “Buy” rating. The firm earned “Buy” rating on Monday, March 19 by Jefferies. On Tuesday, October 3 the stock rating was maintained by SunTrust with “Buy”. The rating was maintained by SunTrust on Wednesday, February 14 with “Buy”. The stock of Diamondback Energy, Inc. (NASDAQ:FANG) earned “Hold” rating by FBR Capital on Monday, February 5. KeyBanc Capital Markets maintained the stock with “Overweight” rating in Tuesday, November 7 report. On Monday, December 11 the stock rating was maintained by Northland Capital with “Buy”.

The stock increased 1.48% or $1.85 during the last trading session, reaching $126.52. About 2.05M shares traded or 54.19% up from the average. Diamondback Energy, Inc. (NASDAQ:FANG) has risen 30.56% since March 31, 2017 and is uptrending. It has outperformed by 19.01% the S&P500.

Analysts await Diamondback Energy, Inc. (NASDAQ:FANG) to report earnings on May, 1. They expect $1.51 earnings per share, up 45.19 % or $0.47 from last year’s $1.04 per share. FANG’s profit will be $148.23M for 20.95 P/E if the $1.51 EPS becomes a reality. After $1.56 actual earnings per share reported by Diamondback Energy, Inc. for the previous quarter, Wall Street now forecasts -3.21 % negative EPS growth.

Diamondback Energy, Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. The company has market cap of $12.42 billion. The Company’s activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn, and Atoka formations. It has a 25.61 P/E ratio. As of December 31, 2016, the companyÂ’s net acreage position is approximately 105,894 acres in the Permian Basin; and estimated proved oil and natural gas reserves were 205,457 thousand barrels of crude oil equivalent.

Diamondback Energy, Inc. (NASDAQ:FANG) Institutional Positions Chart

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