Diamondback Energy (NASDAQ:FANG) PT Raised to $245.00 at Susquehanna

Diamondback Energy (NASDAQ:FANG) had its price objective upped by Susquehanna from $212.00 to $245.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a positive rating on the oil and natural gas company’s stock.

Several other equities research analysts have also commented on FANG. BMO Capital Markets boosted their price objective on shares of Diamondback Energy from $167.00 to $175.00 and gave the stock a market perform rating in a research report on Tuesday, February 13th. Truist Financial decreased their price objective on shares of Diamondback Energy from $250.00 to $248.00 and set a buy rating on the stock in a research report on Friday, April 5th. Evercore ISI upped their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an outperform rating in a report on Monday, March 25th. Barclays started coverage on shares of Diamondback Energy in a report on Wednesday, April 10th. They issued an equal weight rating and a $214.00 target price on the stock. Finally, Bank Of America (Bofa) reduced their target price on shares of Diamondback Energy from $147.00 to $129.00 and set an underperform rating on the stock in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy has an average rating of Moderate Buy and an average price target of $202.26.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $202.58 on Monday. Diamondback Energy has a 52 week low of $123.41 and a 52 week high of $211.96. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. The firm’s 50-day simple moving average is $190.63 and its 200 day simple moving average is $168.24. The firm has a market capitalization of $36.13 billion, a PE ratio of 11.68 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the firm earned $5.29 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Diamondback Energy will post 18.53 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were given a dividend of $3.08 per share. This represents a $12.32 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date was Monday, March 4th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is 20.76%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Jere W. Thompson III sold 2,675 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total transaction of $514,536.25. Following the completion of the transaction, the vice president now directly owns 8,485 shares in the company, valued at approximately $1,632,089.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction that occurred 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 $18,532,416. The disclosure for this sale can be found here. Insiders sold 57,675 shares of company stock valued at $11,311,096 over the last 90 days. 0.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Diamondback Energy

A number of institutional investors have recently bought and sold shares of FANG. Vanguard Group Inc. lifted its holdings in shares of Diamondback Energy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after buying an additional 176,208 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after buying an additional 648,317 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Diamondback Energy by 2.6% during 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 buying an additional 89,663 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Diamondback Energy by 6.6% during the 3rd quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock valued at $514,289,000 after buying an additional 206,189 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Diamondback Energy by 39.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after acquiring an additional 858,446 shares in the last quarter. 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.