Diamondback Energy (NASDAQ:FANG) PT Raised to $250.00

Diamondback Energy (NASDAQ:FANG) had its price objective raised by research analysts at Truist Financial from $248.00 to $250.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Truist Financial’s price objective indicates a potential upside of 22.33% from the stock’s current price.

FANG has been the topic of a number of other research reports. Barclays started coverage on Diamondback Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 target price on the stock. BMO Capital Markets boosted their price objective on Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a report on Tuesday, February 13th. UBS Group boosted their price objective on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Scotiabank upped their price target on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Bank Of America (Bofa) cut their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus target price of $202.53.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $204.37 on Monday. The stock’s fifty day moving average is $191.41 and its two-hundred day moving average is $168.61. The firm has a market capitalization of $36.45 billion, a P/E ratio of 11.79 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. Diamondback Energy has a fifty-two week low of $123.41 and a fifty-two week high of $211.96.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company posted $5.29 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts anticipate that Diamondback Energy will post 18.53 earnings per share for the current year.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was 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 of the company’s stock, valued at approximately $89,322,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock valued at $11,311,096 in the last ninety days. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Several hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in Diamondback Energy by 39.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after buying an additional 858,446 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new position in Diamondback Energy in the third quarter valued at about $128,720,000. Wellington Management Group LLP raised its position in Diamondback Energy by 4.8% in the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after purchasing an additional 648,317 shares during the period. Raymond James & Associates raised its position in Diamondback Energy by 143.0% in the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after purchasing an additional 577,514 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in Diamondback Energy by 286.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock valued at $92,380,000 after purchasing an additional 441,411 shares during the period. 90.01% of the stock is 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.