Barclays Lowers Diamondback Energy (NASDAQ:FANG) Price Target to $185.00

Diamondback Energy (NASDAQ:FANG) had its target price lowered by equities researchers at Barclays from $200.00 to $185.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. Barclays‘s price target points to a potential upside of 35.87% from the stock’s previous close.

A number of other brokerages have also recently issued reports on FANG. KeyCorp dropped their target price on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday. UBS Group dropped 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. JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $167.00 to $166.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Morgan Stanley reissued an “overweight” rating on shares of Diamondback Energy in a research note on Tuesday, April 15th. Finally, Raymond James lowered their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.96.

Diamondback Energy Stock Up 0.5 %

NASDAQ:FANG opened at $136.16 on Wednesday. The company has a market cap of $40.04 billion, a PE ratio of 7.79, a PEG ratio of 1.24 and a beta of 1.44. Diamondback Energy has a 52-week low of $114.00 and a 52-week high of $214.50. The stock has a 50-day simple moving average of $145.44 and a 200 day simple moving average of $163.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

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

Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of Diamondback Energy during the third quarter worth $1,215,000. Fulcrum Equity Management purchased a new stake in Diamondback Energy during the 3rd quarter worth about $206,000. Pine Valley Investments Ltd Liability Co lifted its holdings in Diamondback Energy by 11.3% during the 3rd 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 in the last quarter. World Investment Advisors LLC bought a new position in Diamondback Energy in the 3rd quarter worth about $3,935,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Diamondback Energy during the 3rd quarter valued at about $138,000. 90.01% of the stock is 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.