Diamondback Energy (NASDAQ:FANG) PT Raised to $217.00

Diamondback Energy (NASDAQ:FANG) had its target price increased by Mizuho from $200.00 to $217.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Mizuho’s price objective indicates a potential upside of 5.17% from the stock’s previous close.

FANG has been the topic of several other reports. Truist Financial lowered their target price on shares of Diamondback Energy from $250.00 to $248.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Piper Sandler boosted their price objective on Diamondback Energy from $222.00 to $227.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Scotiabank increased their target price on shares of Diamondback Energy from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a report on Tuesday, February 13th. Barclays began coverage on shares of Diamondback Energy in a research report on Wednesday. They set an “equal weight” rating and a $214.00 price objective on the stock. Finally, Stifel Nicolaus raised their target price on shares of Diamondback Energy from $192.00 to $224.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $196.05.

Diamondback Energy Stock Down 0.9 %

FANG stock opened at $206.34 on Thursday. The firm has a market capitalization of $36.80 billion, a PE ratio of 11.90 and a beta of 1.93. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy has a twelve month low of $123.41 and a twelve month high of $211.96. The stock’s 50 day moving average is $184.85 and its 200-day moving average is $165.91.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the company earned $5.29 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts expect that Diamondback Energy will post 18.52 EPS for the current fiscal year.

Insider Transactions at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Diamondback Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Trust N.A. increased its position in Diamondback Energy by 145.2% during the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock valued at $1,860,000 after buying an additional 7,102 shares in the last quarter. Raymond James & Associates grew its stake in shares of Diamondback Energy by 143.0% during the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after acquiring an additional 577,514 shares during the last quarter. Morgan Stanley raised its position in shares of Diamondback Energy by 2.6% in the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock valued at $541,175,000 after purchasing an additional 89,663 shares during the last quarter. Czech National Bank boosted its stake in Diamondback Energy by 0.3% in the 4th quarter. Czech National Bank now owns 31,348 shares of the oil and natural gas company’s stock worth $4,861,000 after purchasing an additional 95 shares in the last quarter. Finally, Clarity Financial LLC purchased a new stake in Diamondback Energy during the 4th quarter worth approximately $7,153,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, 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.