Stifel Nicolaus Believes Diamondback (FANG) Still Has Room to Grow

In a report issued on June 3, Derrick Whitfield from Stifel Nicolaus maintained a Buy rating on Diamondback (FANGResearch Report), with a price target of $236.00. The company’s shares closed last Monday at $155.81, close to its 52-week high of $159.69.

According to, Whitfield ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -9.6% and a 36.7% success rate. Whitfield covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Northern Oil And Gas.

Diamondback has an analyst consensus of Strong Buy, with a price target consensus of $185.74, a 19.2% upside from current levels. In a report issued on May 25, Barclays also upgraded the stock to Buy with a $160.00 price target.

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Based on Diamondback’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.41 billion and net profit of $779 million. In comparison, last year the company earned revenue of $1.18 billion and had a net profit of $220 million.

Based on the recent corporate insider activity of 32 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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