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Diamondback (FANG) Receives a Buy from Goldman Sachs

In a report issued on March 14, Neil Mehta from Goldman Sachs reiterated a Buy rating on Diamondback (FANGResearch Report), with a price target of $188.00. The company’s shares closed last Wednesday at $125.63.

According to TipRanks.com, Mehta is a 5-star analyst with an average return of 14.0% and a 65.1% success rate. Mehta covers the Utilities sector, focusing on stocks such as Southwestern Energy, Antero Resources, and Canadian Natural.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Diamondback with a $156.63 average price target, representing a 25.7% upside. In a report issued on March 8, Scotiabank also upgraded the stock to Buy with a $160.00 price target.

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Diamondback’s market cap is currently $22.1B and has a P/E ratio of 10.26.

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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