Diamondback Energy (NASDAQ:FANG) Price Target Raised to $204.00

Diamondback Energy (NASDAQ:FANGGet Rating) had its price target lifted by analysts at Wells Fargo & Company from $198.00 to $204.00 in a note issued to investors on Tuesday, The Fly reports. Wells Fargo & Company‘s price objective would indicate a potential upside of 45.71% from the stock’s previous close.

A number of other brokerages also recently weighed in on FANG. Royal Bank of Canada upped their price target on shares of Diamondback Energy from $150.00 to $160.00 in a report on Thursday, February 24th. KeyCorp increased their price objective on shares of Diamondback Energy from $152.00 to $164.00 and gave the company an “overweight” rating in a research note on Friday, April 8th. Bank of America downgraded shares of Diamondback Energy from a “buy” rating to a “neutral” rating and increased their price objective for the company from $165.00 to $170.00 in a research note on Tuesday, March 8th. Morgan Stanley increased their price objective on shares of Diamondback Energy from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 25th. Finally, Piper Sandler increased their price objective on shares of Diamondback Energy from $163.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday, April 7th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Buy” and an average target price of $152.61.

Shares of Diamondback Energy stock opened at $140.00 on Tuesday. The company has a 50 day moving average of $134.76 and a 200-day moving average of $120.90. Diamondback Energy has a 1-year low of $65.93 and a 1-year high of $147.99. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 0.50. The company has a market cap of $24.84 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 0.28 and a beta of 2.30.

Diamondback Energy (NASDAQ:FANGGet Rating) last issued its quarterly earnings results on Tuesday, February 22nd. The oil and natural gas company reported $3.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.38 by $0.25. Diamondback Energy had a net margin of 32.10% and a return on equity of 16.33%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. The firm’s quarterly revenue was up 162.9% on a year-over-year basis. Research analysts forecast that Diamondback Energy will post 22.47 earnings per share for the current year.

In other news, CAO Teresa L. Dick sold 2,500 shares of the stock in a transaction on Monday, March 21st. The shares were sold at an average price of $140.03, for a total transaction of $350,075.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas F. Hawkins sold 8,000 shares of the stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $137.68, for a total transaction of $1,101,440.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,000 shares of company stock valued at $3,319,960. 0.43% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Dark Forest Capital Management LP acquired a new stake in Diamondback Energy in the third quarter worth $26,000. Paragon Capital Management Ltd acquired a new stake in Diamondback Energy in the fourth quarter worth $28,000. Huntington National Bank grew its holdings in Diamondback Energy by 52.1% in the third quarter. Huntington National Bank now owns 321 shares of the oil and natural gas company’s stock worth $30,000 after purchasing an additional 110 shares during the period. Harbor Investment Advisory LLC acquired a new stake in Diamondback Energy in the fourth quarter worth $35,000. Finally, Confluence Wealth Services Inc. acquired a new stake in Diamondback Energy in the fourth quarter worth $38,000. Institutional investors and hedge funds own 89.27% of the company’s stock.

Diamondback Energy Company Profile (Get Rating)

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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