Diamondback Energy (NASDAQ:FANG) Price Target Cut to $194.00 by Analysts at Mizuho

Diamondback Energy (NASDAQ:FANG) had its price objective trimmed by Mizuho from $195.00 to $194.00 in a research report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the oil and natural gas company’s stock.

FANG has been the topic of a number of other reports. Roth Mkm set a $162.00 price target on Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, November 4th. Evercore ISI upped their price target on shares of Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Susquehanna dropped their price target on shares of Diamondback Energy to $188.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Jefferies Financial Group reissued a “hold” rating and issued a $173.00 price objective on shares of Diamondback Energy in a research note on Monday. Finally, UBS Group increased their price objective on Diamondback Energy from $174.00 to $194.00 and gave the company a “buy” rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.24.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $151.85 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. The stock has a market cap of $43.49 billion, a PE ratio of 10.55 and a beta of 0.59. Diamondback Energy has a 12-month low of $114.00 and a 12-month high of $180.29. The business’s 50-day moving average price is $150.80 and its two-hundred day moving average price is $145.57.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period last year, the company posted $3.19 EPS. The firm’s quarterly revenue was up 48.4% compared to the same quarter last year. As a group, analysts expect that Diamondback Energy will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 annualized dividend and a yield of 2.6%. Diamondback Energy’s payout ratio is 27.80%.

Insider Activity

In other news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the sale, the director owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. This trade represents a 26.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC acquired a new position in shares of Diamondback Energy during the fourth quarter valued at about $25,000. Richardson Financial Services Inc. grew its stake in shares of Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after buying an additional 125 shares during the period. JPL Wealth Management LLC bought a new stake in Diamondback Energy in the 3rd quarter valued at about $26,000. Creekmur Asset Management LLC bought a new stake in Diamondback Energy in the 2nd quarter valued at about $28,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in Diamondback Energy by 106.3% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 102 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.