Barclays Believes Diamondback (NASDAQ: FANG) Won’t Stop Here

By Austin Angelo

In a report issued on December 21, Jeffrey Robertson from Barclays maintained a Buy rating on Diamondback (NASDAQ: FANG), with a price target of $138. The company’s shares closed on Friday at $124.37, close to its 52-week high of $125.50.

According to TipRanks.com, Robertson is a 4-star analyst with an average return of 4.0% and a 51.6% success rate. Robertson covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Vanguard Natural Resources LLC, and CNX Resources Corporation.

Currently, the analyst consensus on Diamondback is Strong Buy and the average price target is $124.13, representing a -0.2% downside.

In a report issued on December 11, Credit Suisse also initiated coverage with a Buy rating on the stock with a $123 price target.

Diamondback’s market cap is currently $12.21B and has a P/E ratio of 30.11. The company has a book value ratio of 2.4924.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock.

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Diamondback Energy, Inc. operates as oil and natural gas company. It engages in the acquisition, development, exploration and exploitation of unconventional, onshore oil, and natural gas reserves. The company was founded in December 2007 and is headquartered in Midland, TX.