Diamondback Energy (NASDAQ:FANG) PT Raised to $225.00 at KeyCorp

Diamondback Energy (NASDAQ:FANG) had its price objective upped by KeyCorp from $210.00 to $225.00 in a research note published on Monday morning, Benzinga reports. They currently have an overweight rating on the oil and natural gas company’s stock.

FANG has been the topic of several other reports. UBS Group raised their target price on Diamondback Energy from $183.00 to $200.00 and gave the company a buy rating in a report on Wednesday, February 14th. Scotiabank lifted their price objective on Diamondback Energy from $210.00 to $255.00 and gave the stock a sector outperform rating in a report on Thursday, April 11th. Truist Financial dropped their price objective on Diamondback Energy from $250.00 to $248.00 and set a buy rating on the stock in a report on Friday, April 5th. Mizuho lifted their price objective on Diamondback Energy from $200.00 to $217.00 and gave the stock a buy rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada restated an outperform rating and set a $195.00 price objective on shares of Diamondback Energy in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $202.53.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $207.10 on Monday. The company has a market cap of $36.93 billion, a P/E ratio of 11.94 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 one year low of $123.41 and a one year high of $211.96. The business’s 50-day simple moving average is $192.69 and its 200 day simple moving average is $169.13.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating the consensus estimate of $4.61 by $0.13. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $5.29 EPS. On average, sell-side analysts forecast that Diamondback Energy will post 18.84 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were given a dividend of $3.08 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a yield of 5.95%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s payout ratio is currently 20.76%.

Insider Activity at Diamondback Energy

In related news, VP Jere W. Thompson III sold 2,675 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total transaction of $514,536.25. Following the completion of the transaction, the vice president now owns 8,485 shares in the company, valued at approximately $1,632,089.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Travis D. Stice sold 30,000 shares of the business’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 transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jere W. Thompson III sold 2,675 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total value of $514,536.25. Following the transaction, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The disclosure for this sale can be found here. Insiders sold 57,675 shares of company stock worth $11,311,096 in the last 90 days. 0.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Founders Capital Management boosted its position in Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares during the period. BKM Wealth Management LLC acquired a new position in Diamondback Energy during the 4th quarter worth $27,000. BluePath Capital Management LLC acquired a new position in Diamondback Energy during the 3rd quarter worth $28,000. Logan Capital Management Inc. acquired a new position in Diamondback Energy during the 4th quarter worth $31,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Diamondback Energy during the 4th quarter worth $34,000. 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.