Diamondback Energy (NASDAQ:FANG) PT Raised to $229.00

Diamondback Energy (NASDAQ:FANG) had its price objective raised by stock analysts at Stifel Nicolaus from $224.00 to $229.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 12.30% from the stock’s current price.

Several other research firms also recently weighed in on FANG. BMO Capital Markets lifted their price objective on Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a report on Tuesday, February 13th. UBS Group lifted their target price on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Evercore ISI lifted their target price on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. KeyCorp lifted their target price on Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Truist Financial lifted their target price on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.53.

Diamondback Energy Trading Up 0.7 %

NASDAQ FANG traded up $1.34 on Tuesday, hitting $203.92. 441,670 shares of the stock were exchanged, compared to its average volume of 1,738,894. Diamondback Energy has a 52-week low of $123.41 and a 52-week high of $211.96. The firm has a market capitalization of $36.37 billion, a P/E ratio of 11.75 and a beta of 1.93. The stock has a fifty day moving average price of $190.63 and a two-hundred day moving average price of $168.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77.

Diamondback Energy (NASDAQ:FANG) last released 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 business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company earned $5.29 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts forecast that Diamondback Energy will post 18.53 EPS for the current fiscal year.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the completion of the sale, the vice president now directly owns 8,485 shares in the company, valued at approximately $1,632,089.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jere W. Thompson III sold 2,675 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the sale, the vice president now directly owns 8,485 shares in the company, valued at approximately $1,632,089.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Diamondback Energy by 39.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after purchasing an additional 858,446 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of Diamondback Energy in the 3rd quarter valued at approximately $128,720,000. Wellington Management Group LLP grew its stake in shares of Diamondback Energy by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after purchasing an additional 648,317 shares during the last quarter. Raymond James & Associates grew its stake in shares of Diamondback Energy by 143.0% in the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after purchasing an additional 577,514 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Diamondback Energy by 286.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock valued at $92,380,000 after purchasing an additional 441,411 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.