Citigroup Issues Pessimistic Forecast for Diamondback Energy (NASDAQ:FANG) Stock Price

Diamondback Energy (NASDAQ:FANG) had its target price reduced by investment analysts at Citigroup from $195.00 to $157.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the oil and natural gas company’s stock. Citigroup’s price target indicates a potential upside of 1.29% from the company’s current price.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company dropped their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research note on Wednesday, March 5th. Truist Financial boosted their price target on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, UBS Group upped their target price on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $209.92.

Diamondback Energy Trading Up 1.3 %

NASDAQ FANG opened at $155.00 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. The firm has a market cap of $44.86 billion, a PE ratio of 8.87, a P/E/G ratio of 1.24 and a beta of 1.85. Diamondback Energy has a one year low of $137.09 and a one year high of $214.50. The firm’s fifty day moving average is $161.32 and its two-hundred day moving average is $170.94.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Analysts expect that Diamondback Energy will post 15.49 earnings per share for the current year.

Insider Activity at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Several institutional investors and hedge funds have recently bought and sold shares of FANG. Wintrust Investments LLC acquired a new position in Diamondback Energy during the fourth quarter worth approximately $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy in the fourth quarter worth $29,000. UMB Bank n.a. increased its position in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter worth $33,000. Finally, Key Financial Inc increased its position in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 188 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.