Diamondback Energy (NASDAQ:FANG – Get Rating) had its price target upped by equities researchers at Susquehanna Bancshares from $152.00 to $167.00 in a note issued to investors on Monday, Stock Target Advisor reports. The firm presently has a “positive” rating on the oil and natural gas company’s stock. Susquehanna Bancshares’ target price would suggest a potential upside of 31.68% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Barclays raised their target price on Diamondback Energy from $127.00 to $162.00 in a research note on Friday, March 18th. StockNews.com began coverage on Diamondback Energy in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Scotiabank raised their target price on Diamondback Energy from $165.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 9th. Piper Sandler increased their price target on Diamondback Energy from $163.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday, April 7th. Finally, Royal Bank of Canada raised their target price on Diamondback Energy from $150.00 to $160.00 in a research report on Thursday, February 24th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $160.58.
Shares of FANG opened at $126.82 on Monday. Diamondback Energy has a 12 month low of $65.93 and a 12 month high of $147.99. The stock has a fifty day moving average price of $135.20 and a 200-day moving average price of $121.82. 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 firm has a market cap of $22.50 billion, a PE ratio of 10.38, a P/E/G ratio of 0.27 and a beta of 2.30.
In other news, COO Daniel N. Wesson sold 3,500 shares of Diamondback Energy stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $134.95, for a total transaction of $472,325.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Cross sold 4,000 shares of Diamondback Energy stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $139.00, for a total transaction of $556,000.00. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock valued at $3,319,960 in the last three months. 0.47% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. raised its stake in Diamondback Energy by 1.4% during the 4th quarter. Wetherby Asset Management Inc. now owns 5,774 shares of the oil and natural gas company’s stock worth $622,000 after acquiring an additional 77 shares in the last quarter. Heartland Bank & Trust Co raised its stake in Diamondback Energy by 1.9% during the 4th quarter. Heartland Bank & Trust Co now owns 4,131 shares of the oil and natural gas company’s stock worth $446,000 after acquiring an additional 78 shares in the last quarter. Mackay Shields LLC raised its stake in Diamondback Energy by 0.3% during the 4th quarter. Mackay Shields LLC now owns 25,609 shares of the oil and natural gas company’s stock worth $2,762,000 after acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp raised its stake in Diamondback Energy by 0.6% during the 4th quarter. Toth Financial Advisory Corp now owns 14,455 shares of the oil and natural gas company’s stock worth $1,559,000 after acquiring an additional 80 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in Diamondback Energy by 2.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,697 shares of the oil and natural gas company’s stock worth $507,000 after acquiring an additional 83 shares in the last quarter. 89.27% of the stock is owned by institutional investors and hedge funds.
About Diamondback Energy (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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