Diamondback Energy (NASDAQ:FANG) Price Target Raised to $228.00

Diamondback Energy (NASDAQ:FANG) had its price objective raised by investment analysts at Piper Sandler from $225.00 to $228.00 in a note issued to investors on Thursday, July 17th, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the oil and natural gas company’s stock. Piper Sandler’s target price suggests a potential upside of 57.67% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Raymond James Financial restated a “strong-buy” rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. UBS Group decreased their target price on Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Susquehanna lowered their price objective on Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI began coverage on Diamondback Energy in a report on Tuesday, May 6th. They issued an “outperform” rating and a $165.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on Diamondback Energy from $207.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, June 16th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $191.59.

Diamondback Energy Stock Performance

NASDAQ FANG traded down $0.69 during trading hours on Thursday, hitting $144.61. The company’s stock had a trading volume of 1,035,613 shares, compared to its average volume of 2,475,141. The company has a market cap of $42.25 billion, a P/E ratio of 8.84 and a beta of 1.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. The company’s 50 day simple moving average is $141.58 and its two-hundred day simple moving average is $148.19. Diamondback Energy has a 12 month low of $114.00 and a 12 month high of $203.98.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.87. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The firm’s revenue was up 81.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.50 EPS. As a group, sell-side analysts expect that Diamondback Energy will post 15.49 EPS for the current fiscal year.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van’t sold 10,000 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, the president owned 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Diamondback Energy

A number of hedge funds and other institutional investors have recently modified their holdings of FANG. Price T Rowe Associates Inc. MD boosted its stake in Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock valued at $1,496,859,000 after acquiring an additional 928,429 shares during the period. Boston Partners boosted its stake in Diamondback Energy by 4.8% in the first quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock valued at $861,961,000 after acquiring an additional 249,098 shares during the period. Geode Capital Management LLC boosted its stake in Diamondback Energy by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock valued at $769,706,000 after acquiring an additional 91,605 shares during the period. Bank of New York Mellon Corp boosted its stake in Diamondback Energy by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company’s stock valued at $680,649,000 after acquiring an additional 94,177 shares during the period. Finally, Demars Financial Group LLC boosted its stake in Diamondback Energy by 5.3% in the first quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company’s stock valued at $655,953,000 after acquiring an additional 208,200 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.