Diamondback (FANG) Receives a Buy from Siebert Williams Shank & Co

Siebert Williams Shank & Co analyst Gabriele Sorbara reiterated a Buy rating on Diamondback (FANGResearch Report) today and set a price target of $205.00. The company’s shares closed last Friday at $122.29.

According to, Sorbara is a 5-star analyst with an average return of 11.3% and a 44.7% 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 $190.38, which is a 44.1% upside from current levels. In a report issued on June 6, Morgan Stanley also maintained a Buy rating on the stock with a $178.00 price target.

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Diamondback’s market cap is currently $21.71B and has a P/E ratio of 8.06.

Based on the recent corporate insider activity of 38 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.

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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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