Diamondback Energy (NASDAQ:FANG) Price Target Raised to $236.00

Diamondback Energy (NASDAQ:FANG) had its target price upped by Truist Financial from $230.00 to $236.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the oil and natural gas company’s stock.

FANG has been the subject of several other reports. Raymond James upped their price target on shares of Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 19th. Jefferies Financial Group began coverage on Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 target price for the company. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $210.08.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $177.61 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy has a 52 week low of $147.93 and a 52 week high of $214.50. The stock has a market capitalization of $51.86 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88. The stock has a fifty day moving average of $170.72 and a 200-day moving average of $183.62.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion during 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 for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.49 earnings per share. On average, sell-side analysts expect that Diamondback Energy will post 16.51 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Insider Buying and Selling at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’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 transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

A number of large investors have recently modified their holdings of the company. Carolinas Wealth Consulting LLC raised its holdings in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Financial Advocates Investment Management raised its holdings in shares of Diamondback Energy by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after acquiring an additional 55 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Diamondback Energy by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company’s stock worth $1,566,000 after acquiring an additional 60 shares during the last quarter. Greenup Street Wealth Management LLC lifted its position in Diamondback Energy by 3.4% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock valued at $313,000 after acquiring an additional 60 shares in the last quarter. Finally, West Family Investments Inc. boosted its stake in Diamondback Energy by 3.4% during the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 61 shares during the last quarter. 90.01% of the stock is currently owned by 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.