Diamondback Energy (NASDAQ:FANG) Price Target Cut to $180.00 by Analysts at KeyCorp

Diamondback Energy (NASDAQ:FANG) had its price objective trimmed by KeyCorp from $216.00 to $180.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the oil and natural gas company’s stock.

Other equities analysts also recently issued reports about the stock. Raymond James lowered their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. Wells Fargo & Company decreased their target price on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating for the company in a research report on Monday. Mizuho increased their price target on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Finally, Citigroup upgraded shares of Diamondback Energy from a “reduce” rating to a “buy” rating and boosted their price objective for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $132.35 on Monday. The firm has a market cap of $38.92 billion, a P/E ratio of 7.58, a PEG ratio of 1.24 and a beta of 1.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The stock’s 50-day moving average is $146.67 and its two-hundred day moving average is $164.21.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Analysts predict that Diamondback Energy will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.02%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.48% of the company’s stock.

Institutional Trading of Diamondback Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Diamondback Energy during the third quarter worth approximately $1,215,000. Fulcrum Equity Management bought a new position in shares of Diamondback Energy in the 3rd quarter worth $206,000. Pine Valley Investments Ltd Liability Co grew its stake in shares of Diamondback Energy by 11.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,027 shares of the oil and natural gas company’s stock worth $349,000 after purchasing an additional 205 shares during the period. World Investment Advisors LLC acquired a new position in Diamondback Energy in the third quarter valued at about $3,935,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Diamondback Energy during the third quarter worth about $138,000. Institutional investors and hedge funds 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.