Diamondback (FANG) Gets a Buy Rating from Northland Securities

By Austin Angelo

Northland Securities analyst Jeff Grampp maintained a Buy rating on Diamondback (FANGResearch Report) today and set a price target of $130.00. The company’s shares closed last Monday at $90.23.

According to TipRanks.com, Grampp has currently no stars on a ranking scale of 0-5 stars, with an average return of -15.7% and a 24.0% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Lonestar Resources US, and Northern Oil And Gas.

Currently, the analyst consensus on Diamondback is a Strong Buy with an average price target of $136.20, implying a 49.7% upside from current levels. In a report released today, Williams Capital also reiterated a Buy rating on the stock with a $130.00 price target.

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The company has a one-year high of $119.55 and a one-year low of $80.75. Currently, Diamondback has an average volume of 1.77M.

Based on the recent corporate insider activity of 58 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 independent oil and natural gas company. The firm engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It focuses on the Permian Basin. The company was founded in December 2007 and is headquartered in Midland, TX.