Diamondback Energy (NASDAQ:FANG) Price Target Cut to $200.00 by Analysts at Barclays

Diamondback Energy (NASDAQ:FANG) had its price target dropped by Barclays from $210.00 to $200.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. Barclays‘s price objective suggests a potential upside of 26.90% from the stock’s current price.

A number of other brokerages have also recently weighed in on FANG. Mizuho increased their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price objective on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Piper Sandler dropped their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Raymond James dropped their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. Finally, Wells Fargo & Company dropped their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $209.92.

Diamondback Energy Stock Up 1.7 %

Shares of NASDAQ:FANG opened at $157.60 on Tuesday. The stock has a market capitalization of $45.62 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. Diamondback Energy has a 1-year low of $137.09 and a 1-year high of $214.50. The company’s fifty day moving average is $161.05 and its two-hundred day moving average is $170.85. 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 (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Equities analysts anticipate that Diamondback Energy will post 15.49 EPS for the current year.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FANG. Wintrust Investments LLC acquired a new position in shares of Diamondback Energy in the fourth quarter worth about $28,000. R Squared Ltd acquired a new position in shares of Diamondback Energy in the fourth quarter worth about $29,000. UMB Bank n.a. boosted its holdings 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 buying an additional 136 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of Diamondback Energy in the fourth quarter worth about $33,000. Finally, Key Financial Inc boosted its holdings 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 buying an additional 188 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

About Diamondback Energy

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.