Piper Sandler Reaffirms Their Buy Rating on Diamondback (FANG)

In a report released today, Mark Lear from Piper Sandler maintained a Buy rating on Diamondback, with a price target of $215.00.

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Lear covers the Energy sector, focusing on stocks such as Devon Energy, Coterra Energy, and Occidental Petroleum. According to TipRanks, Lear has an average return of 5.1% and a 57.45% success rate on recommended stocks.

In addition to Piper Sandler, Diamondback also received a Buy from UBS’s Josh Silverstein in a report issued today. However, on the same day, Benchmark Co. downgraded Diamondback (NASDAQ: FANG) to a Hold.

Based on Diamondback’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.38 billion and a GAAP net loss of $1.46 billion. In comparison, last year the company earned a revenue of $3.7 billion and had a net profit of $1.07 billion

Based on the recent corporate insider activity of 38 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. Last month, SGF FANG Holdings, LP, a Major Shareholder at FANG sold 2,000,000.00 shares for a total of $331,870,000.00.