Susquehanna Has Lowered Expectations for Diamondback Energy (NASDAQ:FANG) Stock Price

Diamondback Energy (NASDAQ:FANG) had its price target lowered by research analysts at Susquehanna from $219.00 to $194.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “positive” rating on the oil and natural gas company’s stock. Susquehanna’s target price indicates a potential upside of 42.95% from the company’s current price.

A number of other brokerages have also issued reports on FANG. Wolfe Research raised shares of 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. Scotiabank dropped their target price on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. KeyCorp decreased their price target on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday. Morgan Stanley reissued an “overweight” rating on shares of Diamondback Energy in a research note on Tuesday, April 15th. Finally, UBS Group decreased their target price on Diamondback Energy from $175.00 to $163.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $200.96.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $135.71 on Tuesday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $39.91 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 1.24 and a beta of 1.44. Diamondback Energy has a 12 month low of $114.00 and a 12 month high of $214.50. The firm’s 50-day moving average is $145.86 and its 200 day moving average is $163.83.

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

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. lifted 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 purchasing an additional 3,238 shares in the last quarter. Swedbank AB boosted its stake 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 acquiring an additional 43,361 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Diamondback Energy by 631.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock worth $7,069,000 after purchasing an additional 37,246 shares in the last quarter. Franklin Resources Inc. lifted its holdings 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 valued at $28,008,000 after purchasing an additional 47,951 shares in the last quarter. Finally, Tectonic Advisors LLC boosted its stake in Diamondback Energy by 38.2% during the 4th 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. 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.