Diamondback Energy (NASDAQ:FANG) Price Target Raised to $236.00

Diamondback Energy (NASDAQ:FANG) had its price objective hoisted by Truist Financial from $230.00 to $236.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the oil and natural gas company’s stock.

A number of other research firms have also recently weighed in on FANG. Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Jefferies Financial Group began coverage on Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 price objective on the stock. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Finally, Evercore ISI cut their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.08.

Diamondback Energy Stock Up 1.1 %

FANG opened at $179.56 on Monday. The business has a 50 day moving average price of $170.76 and a two-hundred day moving average price of $183.46. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market cap of $52.43 billion, a PE ratio of 10.28, a P/E/G ratio of 1.19 and a beta of 1.88. Diamondback Energy has a 52 week low of $147.93 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the company posted $5.49 earnings per share. As a group, research analysts anticipate that Diamondback Energy will post 16.51 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its stake in Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after acquiring an additional 47,951 shares during the period. Benjamin Edwards Inc. grew its holdings in Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after buying an additional 7,694 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Diamondback Energy in the 4th quarter valued at approximately $1,053,000. Geode Capital Management LLC raised its stake in Diamondback Energy by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after acquiring an additional 266,299 shares in the last quarter. Finally, Atria Investments Inc boosted its position in Diamondback Energy by 18.5% during the 3rd quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock worth $7,358,000 after acquiring an additional 6,672 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.