Diamondback Energy (NASDAQ:FANG) Price Target Raised to $237.00

Diamondback Energy (NASDAQ:FANG) had its price objective boosted by equities researchers at Raymond James from $232.00 to $237.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the oil and natural gas company’s stock. Raymond James’ price objective would suggest a potential upside of 30.61% from the stock’s current price.

Several other equities analysts also recently issued reports on FANG. Jefferies Financial Group began coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price target for the company. Morgan Stanley lifted their target price on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Bank of America upped their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, UBS Group decreased their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

Diamondback Energy Trading Up 0.7 %

Shares of Diamondback Energy stock opened at $181.46 on Tuesday. The firm has a market capitalization of $52.98 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 1.26 and a beta of 1.89. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $181.65 and its 200 day moving average is $191.00. Diamondback Energy has a 1 year low of $145.70 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $5.49 EPS. Equities research analysts forecast that Diamondback Energy will post 16.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Diamondback Energy

Several hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Diamondback Energy by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after purchasing an additional 2,381,488 shares in the last quarter. Boston Partners boosted its position in shares of Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after acquiring an additional 1,916,900 shares during the last quarter. Zimmer Partners LP purchased a new position in shares of Diamondback Energy during the third quarter worth about $87,924,000. Holocene Advisors LP raised its stake in Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after purchasing an additional 457,896 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its position in shares of Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after buying an additional 439,579 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.