BMO Capital Reiterates Their Buy Rating on Diamondback

By Jason Carr

BMO Capital analyst Dan McSpirit reiterated a Buy rating on Diamondback (NASDAQ: FANG) today and set a price target of $130. The company’s shares opened today at $108.27.

According to TipRanks.com, McSpirit is a 3-star analyst with an average return of 1.3% and a 47.4% success rate. McSpirit covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Sanchez Energy Corporation, and Jagged Peak Energy Inc.

Currently, the analyst consensus on Diamondback is Strong Buy and the average price target is $122.50, representing a 13.1% upside.

In a report issued on November 7, KeyBanc also reiterated a Buy rating on the stock with a $125 price target.

Diamondback’s market cap is currently $10.89B and has a P/E ratio of 26.22. The company has a book value ratio of 2.1698.

Based on the recent corporate insider activity of 40 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.