Diamondback Energy (NASDAQ:FANG) PT Raised to $225.00

Diamondback Energy (NASDAQ:FANG) had its target price raised by stock analysts at KeyCorp from $210.00 to $225.00 in a note issued to investors on Monday. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. KeyCorp’s price target would suggest a potential upside of 12.03% from the stock’s current price.

FANG has been the topic of several other reports. Truist Financial dropped their target price on Diamondback Energy from $250.00 to $248.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Scotiabank boosted their price target on Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Barclays initiated coverage on Diamondback Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price target on the stock. Bank Of America (Bofa) dropped their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research note on Thursday, January 18th. Finally, Piper Sandler boosted their price target on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.16.

Diamondback Energy Stock Up 0.0 %

Shares of FANG traded up $0.10 during trading hours on Monday, hitting $200.84. The company had a trading volume of 178,225 shares, compared to its average volume of 1,738,939. The company has a market capitalization of $35.82 billion, a PE ratio of 11.51 and a beta of 1.93. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. Diamondback Energy has a one year low of $123.41 and a one year high of $211.96. The company’s fifty day moving average price is $189.90 and its two-hundred day moving average price is $167.83.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $5.29 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that Diamondback Energy will post 18.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Diamondback Energy

In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the completion of the sale, the chief financial officer now owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the completion of the sale, the chief financial officer now owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders sold 57,675 shares of company stock valued at $11,311,096 over the last quarter. 0.43% of the stock is currently owned by insiders.

Institutional Trading of Diamondback Energy

A number of hedge funds and other institutional investors have recently modified their holdings of FANG. Founders Capital Management lifted its stake in Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares in the last quarter. BKM Wealth Management LLC acquired a new position in Diamondback Energy during the 4th quarter worth about $27,000. BluePath Capital Management LLC acquired a new position in Diamondback Energy during the 3rd quarter worth about $28,000. Logan Capital Management Inc. acquired a new position in Diamondback Energy during the 4th quarter worth about $31,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Diamondback Energy during the 4th quarter worth about $34,000. 90.01% of the stock is owned by institutional investors and hedge funds.

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.