Diamondback Energy (NASDAQ:FANG) Price Target Lowered to $207.00 at Wells Fargo & Company

Diamondback Energy (NASDAQ:FANG) had its price objective trimmed by Wells Fargo & Company from $215.00 to $207.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the oil and natural gas company’s stock.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Diamondback Energy in a report on Tuesday, April 15th. UBS Group cut their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Finally, Raymond James decreased their price target on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $204.29.

Diamondback Energy Trading Down 3.8 %

Shares of FANG stock opened at $132.35 on Monday. Diamondback Energy has a 52-week low of $114.00 and a 52-week high of $214.50. The business’s fifty day moving average is $146.67 and its 200 day moving average is $164.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a market capitalization of $38.92 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44.

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

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. 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%. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

Insider Activity

In related news, Director Frank D. Tsuru acquired 2,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

A number of hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. raised its holdings in Diamondback Energy by 38.4% during the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock valued at $1,913,000 after acquiring an additional 3,238 shares during the period. Swedbank AB lifted its holdings in shares of Diamondback Energy by 28.0% in the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after buying an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Diamondback Energy by 631.1% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after purchasing an additional 37,246 shares during the last quarter. Franklin Resources Inc. increased its stake in Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after acquiring an additional 47,951 shares during the last quarter. Finally, Tectonic Advisors LLC increased its position in Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after purchasing an additional 8,704 shares during the last quarter. 90.01% of the stock is currently owned by 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.