Diamondback Energy (NASDAQ:FANG) Given New $115.00 Price Target at Truist

Diamondback Energy (NASDAQ:FANG) had its price target hoisted by investment analysts at Truist from $105.00 to $115.00 in a research report issued to clients and investors on Thursday, The Fly reports. Truist’s target price suggests a potential upside of 52.95% from the stock’s previous close.

Several other research firms have also commented on FANG. Truist Securities raised their price target on shares of Diamondback Energy from $80.00 to $105.00 and gave the company a “buy” rating in a report on Monday, March 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on shares of Diamondback Energy from $82.00 to $100.00 in a research report on Tuesday, March 23rd. Truist Financial increased their price objective on shares of Diamondback Energy from $80.00 to $105.00 in a research report on Monday, March 8th. Johnson Rice downgraded shares of Diamondback Energy from an “accumulate” rating to a “hold” rating in a research report on Tuesday, March 9th. Finally, Raymond James raised shares of Diamondback Energy from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $50.00 to $91.00 in a research report on Tuesday, January 26th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $72.48.

Shares of Diamondback Energy stock traded down $1.12 during mid-day trading on Thursday, hitting $75.19. 182,752 shares of the stock were exchanged, compared to its average volume of 3,183,298. Diamondback Energy has a twelve month low of $23.63 and a twelve month high of $88.75. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of -2.79, a price-to-earnings-growth ratio of 0.59 and a beta of 2.59. The company has a 50-day simple moving average of $75.87 and a 200 day simple moving average of $51.95. The company has a current ratio of 0.45, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Sunday, February 21st. The oil and natural gas company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. Diamondback Energy had a negative net margin of 135.48% and a positive return on equity of 5.10%. The business had revenue of $769.00 million for the quarter, compared to analyst estimates of $768.65 million. During the same period in the prior year, the firm posted $1.93 EPS. The company’s revenue was down 30.3% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy will post 3.06 earnings per share for the current fiscal year.

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 1,900 shares of the firm’s stock in a transaction on Friday, March 19th. The stock was sold at an average price of $77.24, for a total value of $146,756.00. Following the sale, the chief financial officer now directly owns 67,043 shares in the company, valued at $5,178,401.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new stake in shares of Diamondback Energy during the third quarter valued at about $25,000. Vantage Consulting Group Inc bought a new stake in shares of Diamondback Energy during the fourth quarter valued at about $26,000. AJO LP bought a new stake in shares of Diamondback Energy during the fourth quarter valued at about $33,000. IFP Advisors Inc raised its stake in shares of Diamondback Energy by 125.0% during the fourth quarter. IFP Advisors Inc now owns 900 shares of the oil and natural gas company’s stock valued at $43,000 after purchasing an additional 500 shares in the last quarter. Finally, Jeppson Wealth Management LLC bought a new stake in shares of Diamondback Energy during the third quarter valued at about $47,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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