In a report released today, Devin McDermott from Morgan Stanley maintained a Buy rating on Diamondback (FANG – Research Report), with a price target of $178.00. The company’s shares closed last Monday at $153.99, close to its 52-week high of $159.69.
According to TipRanks.com, McDermott is a 5-star analyst with an average return of 15.7% and a 59.2% success rate. McDermott covers the Utilities sector, focusing on stocks such as Excelerate Energy, Inc. Class A, Continental Resources, and Occidental Petroleum.
Currently, the analyst consensus on Diamondback is a Strong Buy with an average price target of $185.00, representing a 18.8% upside. In a report issued on May 25, Barclays also upgraded the stock to Buy with a $160.00 price target.
The company has a one-year high of $159.69 and a one-year low of $65.93. Currently, Diamondback has an average volume of 2.64M.
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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