Diamondback Energy (NASDAQ:FANG) Price Target Cut to $140.00 by Analysts at Roth Capital

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Diamondback Energy (NASDAQ:FANG) had its target price decreased by Roth Capital from $150.00 to $140.00 in a research note issued to investors on Thursday morning, The Fly reports. Roth Capital currently has a buy rating on the oil and natural gas company’s stock.

Several other equities research analysts have also issued reports on the stock. TD Securities lifted their price target on shares of Diamondback Energy from $155.00 to $160.00 and gave the company an action list buy rating in a report on Thursday, June 20th. Royal Bank of Canada reaffirmed a buy rating and set a $156.00 price target on shares of Diamondback Energy in a report on Sunday, August 11th. Morgan Stanley decreased their price target on shares of Diamondback Energy from $143.00 to $140.00 and set an overweight rating on the stock in a report on Wednesday, August 14th. Oppenheimer set a $151.00 target price on shares of Diamondback Energy and gave the stock a buy rating in a report on Friday, August 9th. Finally, Wells Fargo & Co boosted their target price on shares of Diamondback Energy from $169.00 to $171.00 and gave the stock an outperform rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $156.60.

Shares of Diamondback Energy stock opened at $97.26 on Thursday. The firm has a market capitalization of $15.62 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 0.64 and a beta of 0.82. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average is $102.56 and its 200 day moving average is $103.24. Diamondback Energy has a 1 year low of $85.19 and a 1 year high of $140.78.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.04). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.04 billion. Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The company’s revenue for the quarter was up 93.7% compared to the same quarter last year. During the same period last year, the firm posted $1.59 earnings per share. As a group, research analysts anticipate that Diamondback Energy will post 7.27 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 16th will be given a $0.188 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.77%. Diamondback Energy’s dividend payout ratio (DPR) is currently 12.78%.

In other news, VP Russell Pantermuehl sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total value of $560,900.00. Following the transaction, the vice president now owns 117,107 shares in the company, valued at approximately $13,137,063.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Travis D. Stice purchased 4,186 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $95.55 per share, for a total transaction of $399,972.30. The disclosure for this purchase can be found here. Insiders sold a total of 11,500 shares of company stock worth $1,258,505 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FANG. Nuveen Asset Management LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter worth approximately $303,291,000. JPMorgan Chase & Co. lifted its position in shares of Diamondback Energy by 11.4% during the 1st quarter. JPMorgan Chase & Co. now owns 13,528,463 shares of the oil and natural gas company’s stock valued at $1,373,546,000 after acquiring an additional 1,388,245 shares during the period. Geode Capital Management LLC lifted its position in shares of Diamondback Energy by 128.1% during the 4th quarter. Geode Capital Management LLC now owns 2,040,175 shares of the oil and natural gas company’s stock valued at $188,797,000 after acquiring an additional 1,145,573 shares during the period. Boston Partners lifted its position in shares of Diamondback Energy by 16.5% during the 1st quarter. Boston Partners now owns 3,990,944 shares of the oil and natural gas company’s stock valued at $405,201,000 after acquiring an additional 566,290 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Diamondback Energy by 60.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,374,465 shares of the oil and natural gas company’s stock valued at $127,413,000 after acquiring an additional 517,292 shares during the period. Hedge funds and other institutional investors own 99.48% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

Further Reading: The components of the Stochastic Momentum Index

The Fly

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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