Diamondback Energy (NASDAQ:FANG) Price Target Cut to $207.00 by Analysts at Mizuho

Diamondback Energy (NASDAQ:FANG) had its price target lowered by Mizuho from $219.00 to $207.00 in a research note published on Monday,Benzinga reports. Mizuho currently has an outperform rating on the oil and natural gas company’s stock.

Several other brokerages have also recently issued reports on FANG. Raymond James raised their price objective on Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 19th. Piper Sandler raised their price target on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Wednesday, November 6th. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Finally, Scotiabank cut their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.52.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $158.93 on Monday. The company’s fifty day moving average price is $178.68 and its two-hundred day moving average price is $187.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market capitalization of $46.41 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.21 and a beta of 1.88. Diamondback Energy has a 12 month low of $147.93 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the business earned $5.49 EPS. On average, research analysts anticipate that Diamondback Energy will post 16.28 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.27%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Buying and Selling

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Institutional Trading of Diamondback Energy

Several hedge funds and other institutional investors have recently modified their holdings of FANG. Dakota Wealth Management grew its stake in shares of Diamondback Energy by 6.9% in the 2nd quarter. Dakota Wealth Management now owns 1,893 shares of the oil and natural gas company’s stock valued at $379,000 after buying an additional 122 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Diamondback Energy in the second quarter valued at approximately $520,000. Crescent Grove Advisors LLC bought a new stake in Diamondback Energy in the second quarter worth approximately $209,000. Fifth Third Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the 2nd quarter worth $439,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Diamondback Energy during the 2nd quarter valued at $191,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.