Stifel Nicolaus Raises Diamondback Energy (NASDAQ:FANG) Price Target to $229.00

Diamondback Energy (NASDAQ:FANG) had its price objective increased by investment analysts at Stifel Nicolaus from $224.00 to $229.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 12.30% from the company’s previous close.

Several other research analysts also recently issued reports on FANG. Mizuho upped 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. Morgan Stanley dropped their target price on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Susquehanna upped their price objective on shares of Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research report on Monday. BMO Capital Markets upped their price objective on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a research report on Tuesday, February 13th. Finally, Bank Of America (Bofa) reduced their target price on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus price target of $202.53.

Diamondback Energy Price Performance

Shares of FANG traded up $1.34 on Tuesday, hitting $203.92. The company’s stock had a trading volume of 441,670 shares, compared to its average volume of 1,738,894. The company has a market capitalization of $36.37 billion, a PE ratio of 11.75 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 has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The company has a 50 day moving average price of $190.63 and a 200 day moving average price of $168.24.

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, topping 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%. Diamondback Energy’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $5.29 EPS. On average, research analysts anticipate that Diamondback Energy will post 18.53 earnings per share for the current fiscal year.

Insider Transactions at Diamondback Energy

In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the sale, the chief accounting officer now owns 96,523 shares in the company, valued at $18,532,416. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the completion of the sale, the chief financial officer now owns 185,882 shares in the company, valued at approximately $35,470,003.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is currently owned by company insiders.

Institutional Trading of Diamondback Energy

Hedge funds have recently added to or reduced their stakes in the stock. Founders Capital Management lifted its holdings in shares of Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 101 shares during the period. BKM Wealth Management LLC bought a new position in Diamondback Energy during the fourth quarter worth $27,000. BluePath Capital Management LLC bought a new stake in Diamondback Energy in the third quarter valued at $28,000. Logan Capital Management Inc. bought a new stake in Diamondback Energy in the fourth quarter valued at $31,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Diamondback Energy in the fourth quarter valued at $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.