Stifel Nicolaus Lowers Diamondback Energy (NASDAQ:FANG) Price Target to $176.00

Diamondback Energy (NASDAQ:FANG – Get Rating) had its target price reduced by Stifel Nicolaus from $180.00 to $176.00 in a research report released on Monday, The Fly reports.

A number of other brokerages have also recently weighed in on FANG. UBS Group initiated coverage on shares of Diamondback Energy in a research note on Wednesday, April 19th. They set a buy rating and a $177.00 price objective on the stock. Raymond James lifted their price objective on shares of Diamondback Energy from $165.00 to $190.00 and gave the company a strong-buy rating in a research note on Friday, April 21st. Roth Capital reiterated a buy rating on shares of Diamondback Energy in a research report on Wednesday, February 22nd. StockNews.com assumed coverage on shares of Diamondback Energy in a research report on Thursday, May 18th. They issued a hold rating on the stock. Finally, Piper Sandler dropped their price target on shares of Diamondback Energy from $207.00 to $202.00 in a research report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy currently has an average rating of Moderate Buy and an average target price of $178.00.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $131.00 on Monday. Diamondback Energy has a 12 month low of $103.71 and a 12 month high of $168.95. The company has a market cap of $23.72 billion, a PE ratio of 5.42, a P/E/G ratio of 0.32 and a beta of 2.03. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.62 and a quick ratio of 0.58. The company has a fifty day moving average price of $135.18 and a two-hundred day moving average price of $140.32.

Diamondback Energy (NASDAQ:FANG – Get Rating) last announced its quarterly earnings results on Monday, May 1st. The oil and natural gas company reported $4.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.33 by ($0.23). Diamondback Energy had a net margin of 47.15% and a return on equity of 27.02%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the firm posted $5.20 EPS. The business’s revenue was down 20.1% compared to the same quarter last year. Research analysts expect that Diamondback Energy will post 19.06 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Thursday, May 11th were issued a dividend of $0.80 per share. The ex-dividend date was Wednesday, May 10th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.44%. Diamondback Energy’s dividend payout ratio (DPR) is presently 13.25%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FANG. AlphaCrest Capital Management LLC lifted its holdings in shares of Diamondback Energy by 6.0% during the first quarter. AlphaCrest Capital Management LLC now owns 3,156 shares of the oil and natural gas company’s stock worth $433,000 after buying an additional 178 shares during the last quarter. Raymond James Trust N.A. grew its position in Diamondback Energy by 8.2% in the first quarter. Raymond James Trust N.A. now owns 4,932 shares of the oil and natural gas company’s stock valued at $676,000 after acquiring an additional 374 shares during the period. Cibc World Market Inc. grew its position in Diamondback Energy by 13.6% in the first quarter. Cibc World Market Inc. now owns 34,403 shares of the oil and natural gas company’s stock valued at $4,716,000 after acquiring an additional 4,129 shares during the period. Vontobel Holding Ltd. bought a new stake in Diamondback Energy in the first quarter valued at $223,000. Finally, Blair William & Co. IL bought a new stake in Diamondback Energy in the first quarter valued at $205,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

About Diamondback Energy

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Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.