Diamondback Gets a Buy Rating from Northland Securities

By Austin Angelo

In a report released today, Jeff Grampp from Northland Securities reiterated a Buy rating on Diamondback (NASDAQ: FANG), with a price target of $140. The company’s shares opened today at $116.

According to TipRanks.com, Grampp is ranked 0 out of 5 stars with an average return of -9.6% and a 33.0% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Penn Virginia Corporation, and Evolution Petroleum Corp.

Currently, the analyst consensus on Diamondback is Strong Buy and the average price target is $142.53, representing a 22.9% upside.

In a report issued on February 1, Deutsche Bank also initiated coverage with a Buy rating on the stock with a $162 price target.

The company has a one-year high of $134.52 and a one-year low of $82.77. Currently, Diamondback has an average volume of 1.17M.

Based on the recent corporate insider activity of 50 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.