Truist Financial Boosts Diamondback Energy (NASDAQ:FANG) Price Target to $250.00

Diamondback Energy (NASDAQ:FANG) had its price objective raised by Truist Financial from $248.00 to $250.00 in a report published on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the oil and natural gas company’s stock.

FANG has been the topic of a number of other research reports. Stifel Nicolaus raised their price target on Diamondback Energy from $192.00 to $224.00 and gave the stock a buy rating in a research report on Friday, March 22nd. KeyCorp raised their price target on Diamondback Energy from $210.00 to $225.00 and gave the stock an overweight rating in a research report on Monday. Mizuho raised their price target on Diamondback Energy from $200.00 to $217.00 and gave the stock a buy rating in a research report on Thursday, April 11th. Morgan Stanley decreased their price target on Diamondback Energy from $186.00 to $184.00 and set an overweight rating on the stock in a research report on Monday, April 15th. Finally, UBS Group raised their price target on Diamondback Energy from $183.00 to $200.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy has a consensus rating of Moderate Buy and a consensus price target of $202.53.

Diamondback Energy Trading Up 0.9 %

Shares of Diamondback Energy stock opened at $207.10 on Monday. The business has a fifty day simple moving average of $192.69 and a two-hundred day simple moving average of $169.13. Diamondback Energy has a 1 year low of $123.41 and a 1 year high of $211.96. The company has a market capitalization of $36.93 billion, a price-to-earnings ratio of 11.94 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm earned $5.29 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. Research analysts forecast that Diamondback Energy will post 18.84 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a dividend of $3.08 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a dividend yield of 5.95%. The ex-dividend date was Monday, March 4th. Diamondback Energy’s payout ratio is 20.76%.

Insider Transactions at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,523 shares in the company, valued at $18,532,416. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,675 shares of company stock worth $11,311,096. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in FANG. Founders Capital Management lifted its stake in Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after buying an additional 101 shares during the period. BKM Wealth Management LLC acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $27,000. BluePath Capital Management LLC acquired a new position in Diamondback Energy in the third quarter valued at approximately $28,000. Logan Capital Management Inc. acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $31,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $34,000. 90.01% of the stock is owned by institutional investors and hedge funds.

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.