Diamondback Energy (NASDAQ:FANG) PT Raised to $220.00

Diamondback Energy (NASDAQ:FANG) had its price objective boosted by Royal Bank of Canada from $195.00 to $220.00 in a report issued on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the oil and natural gas company’s stock.

Other equities research analysts also recently issued research reports about the company. KeyCorp upped their price target on Diamondback Energy from $210.00 to $225.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Bank Of America (Bofa) lowered their target price on shares of Diamondback Energy from $147.00 to $129.00 and set an underperform rating for the company in a report on Thursday, January 18th. Morgan Stanley cut their price target on shares of Diamondback Energy from $186.00 to $184.00 and set an overweight rating on the stock in a report on Monday, April 15th. Scotiabank upped their price objective on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a sector outperform rating in a research report on Thursday, April 11th. Finally, Evercore ISI lifted their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an outperform rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $205.68.

Diamondback Energy Stock Up 1.3 %

Diamondback Energy stock opened at $204.19 on Monday. The firm has a market capitalization of $36.42 billion, a price-to-earnings ratio of 11.51 and a beta of 1.91. The firm’s fifty day moving average price is $196.03 and its two-hundred day moving average price is $171.08. Diamondback Energy has a 1-year low of $123.41 and a 1-year high of $211.96. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.21. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.10 EPS. On average, equities research analysts predict that Diamondback Energy will post 18.91 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock valued at $11,311,096 in the last 90 days. 0.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Diamondback Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. Sage Mountain Advisors LLC boosted its position in shares of Diamondback Energy by 4.5% during the 1st quarter. Sage Mountain Advisors LLC now owns 1,420 shares of the oil and natural gas company’s stock valued at $281,000 after acquiring an additional 61 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in Diamondback Energy by 1.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock valued at $566,000 after purchasing an additional 64 shares during the last quarter. MCF Advisors LLC grew its stake in Diamondback Energy by 8.6% in the 4th quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock worth $131,000 after buying an additional 67 shares in the last quarter. Wetzel Investment Advisors Inc. increased its holdings in shares of Diamondback Energy by 9.4% in the 1st quarter. Wetzel Investment Advisors Inc. now owns 859 shares of the oil and natural gas company’s stock worth $171,000 after buying an additional 74 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Diamondback Energy by 2.5% during the 4th quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after buying an additional 75 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

About Diamondback Energy

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.