Diamondback Energy (NASDAQ:FANG) Price Target Lowered to $224.00 at Wells Fargo & Company

Diamondback Energy (NASDAQ:FANG) had its price target dropped by investment analysts at Wells Fargo & Company from $227.00 to $224.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and natural gas company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 11.17% from the company’s previous close.

Several other brokerages have also weighed in on FANG. UBS Group increased their target price on Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Truist Financial lifted their price objective on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Susquehanna increased their target price on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Bank Of America (Bofa) reduced their price target on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research report on Thursday, January 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.37.

Diamondback Energy Stock Up 2.0 %

FANG opened at $201.50 on Thursday. Diamondback Energy has a 12 month low of $123.41 and a 12 month high of $211.96. The business has a 50-day moving average of $194.99 and a two-hundred day moving average of $170.58. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.74. The stock has a market capitalization of $35.94 billion, a price-to-earnings ratio of 11.36 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the firm earned $4.10 earnings per share. Diamondback Energy’s revenue was up 15.7% compared to the same quarter last year. On average, research analysts expect that Diamondback Energy will post 18.96 earnings per share for the current year.

Insider Buying and Selling at Diamondback Energy

In other news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the completion of the sale, the chief financial officer now owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares in the company, valued at approximately $35,470,003.24. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock valued at $11,311,096 in the last three months. Corporate insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sage Mountain Advisors LLC raised its holdings in shares of Diamondback Energy by 4.5% during the first quarter. Sage Mountain Advisors LLC now owns 1,420 shares of the oil and natural gas company’s stock worth $281,000 after purchasing an additional 61 shares during the period. Coldstream Capital Management Inc. lifted its holdings in Diamondback Energy by 1.8% in the third quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock worth $566,000 after acquiring an additional 64 shares during the last quarter. MCF Advisors LLC boosted its stake in Diamondback Energy by 8.6% in the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after acquiring an additional 67 shares during the period. Veracity Capital LLC grew its holdings in shares of Diamondback Energy by 3.5% during the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 70 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. raised its position in shares of Diamondback Energy by 9.4% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 859 shares of the oil and natural gas company’s stock worth $171,000 after purchasing an additional 74 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

About Diamondback Energy

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.