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Diamondback (FANG) Received its Third Buy in a Row

After J.P. Morgan and Piper Sandler gave Diamondback (NASDAQ: FANG) a Buy rating last month, the company received another Buy, this time from Siebert Williams Shank & Co. Analyst Gabriele Sorbara reiterated a Buy rating on Diamondback today and set a price target of $200.00. The company’s shares closed last Monday at $127.50.

According to TipRanks.com, Sorbara is a 5-star analyst with an average return of 11.2% and a 43.9% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Continental Resources, Magnolia Oil & Gas, and Matador Resources.

Diamondback has an analyst consensus of Strong Buy, with a price target consensus of $181.70, implying a 46.5% upside from current levels. In a report issued on April 22, Stifel Nicolaus also maintained a Buy rating on the stock with a $222.00 price target.

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The company has a one-year high of $147.99 and a one-year low of $65.93. Currently, Diamondback has an average volume of 2.58M.

Based on the recent corporate insider activity of 39 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 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. The Midstream Services segment involves in the Midland and Delaware Basins. The company was founded in December 2007 and is headquartered in Midland, TX.

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