Morgan Stanley (NYSE:MS) analyst Devin McDermott maintained a Hold rating on Diamondback (NASDAQ:FANG) on Tuesday, setting a price target of $35, which is approximately 9.75% below the present share price of $38.78.
McDermott expects Diamondback to post earnings per share (EPS) of -$1.72 for the second quarter of 2020.
The current consensus among 21 TipRanks analysts is for a Strong Buy rating of shares in Diamondback, with an average price target of $51.75.
The analysts price targets range from a high of $134 to a low of $34.
In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $899 million and a net profit of $207 million. The company's market cap is $6.86 billion.
According to TipRanks.com, Morgan Stanley analyst Devin McDermott is ranked 0 out of 5 stars with an average return of -8.3% and a 32.5% success rate.
Diamondback Energy, Inc. is an independent oil and natural gas company, which engages in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas. The Midstream Services segment involves in the Midland and Delaware Basins. The company was founded in December 2007 and is headquartered in Midland, TX.