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

Diamondback Energy (NASDAQ:FANG) had its price target reduced by Barclays from $200.00 to $185.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the oil and natural gas company’s stock.

FANG has been the subject of several other reports. JPMorgan Chase & Co. decreased their target price on Diamondback Energy from $167.00 to $166.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Mizuho lifted their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Scotiabank dropped their target price on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Morgan Stanley reiterated an “overweight” rating on shares of Diamondback Energy in a report on Tuesday, April 15th. Finally, UBS Group reduced their price objective on Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $200.96.

Diamondback Energy Price Performance

FANG stock opened at $135.71 on Wednesday. The stock has a market cap of $39.91 billion, a PE ratio of 7.77, a P/E/G ratio of 1.24 and a beta of 1.44. Diamondback Energy has a 12 month low of $114.00 and a 12 month high of $214.50. The company has a 50-day moving average price of $145.86 and a 200 day moving average price of $163.83. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last announced its 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. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Equities research analysts anticipate that Diamondback Energy will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors and hedge funds have recently made changes to their positions in FANG. Lakewood Asset Management LLC lifted its position in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after acquiring an additional 60 shares during the period. Magnolia Capital Advisors LLC raised its stake in shares of Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after purchasing an additional 64 shares during the last quarter. Barden Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 64 shares during the period. Greenleaf Trust boosted its position in Diamondback Energy by 1.0% in the fourth quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after buying an additional 66 shares during the last quarter. Finally, Buckhead Capital Management LLC increased its holdings in Diamondback Energy by 0.3% in the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock worth $3,249,000 after buying an additional 67 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.