Diamondback Energy (NASDAQ:FANG) Price Target Raised to $225.00

Diamondback Energy (NASDAQ:FANG) had its price target lifted by KeyCorp from $210.00 to $225.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the oil and natural gas company’s stock.

FANG has been the topic of a number of other research reports. Piper Sandler increased their price target on Diamondback Energy from $227.00 to $247.00 and gave the stock an overweight rating in a research report on Friday, April 19th. BMO Capital Markets increased their price target on Diamondback Energy from $167.00 to $175.00 and gave the stock a market perform rating in a research report on Tuesday, February 13th. Barclays assumed coverage on Diamondback Energy in a research report on Wednesday, April 10th. They set an equal weight rating and a $214.00 price target on the stock. Scotiabank upped their price objective on Diamondback Energy from $210.00 to $255.00 and gave the stock a sector outperform rating in a research note on Thursday, April 11th. Finally, Bank Of America (Bofa) decreased their price objective on 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 given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of Moderate Buy and a consensus target price of $202.53.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $205.24 on Monday. The stock’s fifty day moving average is $192.11 and its two-hundred day moving average is $168.87. The company has a market capitalization of $36.60 billion, a PE ratio of 11.84 and a beta of 1.93. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy has a 52 week low of $123.41 and a 52 week high of $211.96.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating the consensus estimate of $4.61 by $0.13. The company 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 quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.29 EPS. As a group, analysts expect that Diamondback Energy will post 18.67 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were paid a $3.08 dividend. This represents a $12.32 annualized dividend and a dividend yield of 6.00%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, March 4th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

Insider Transactions at Diamondback Energy

In other news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at $18,532,416. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the sale, the chief operating officer now directly owns 78,218 shares in the company, valued at $15,031,153.06. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock worth $11,311,096 over the last three months. 0.43% of the stock is currently owned by insiders.

Institutional Trading of Diamondback Energy

Several hedge funds and other institutional investors have recently bought and sold shares of FANG. International Assets Investment Management LLC acquired a new stake in Diamondback Energy during the third quarter worth about $257,000. Vontobel Holding Ltd. acquired a new stake in Diamondback Energy in the third quarter valued at approximately $928,000. HB Wealth Management LLC acquired a new stake in Diamondback Energy in the third quarter valued at approximately $324,000. Mach 1 Financial Group LLC acquired a new stake in Diamondback Energy in the third quarter valued at approximately $732,000. Finally, CreativeOne Wealth LLC acquired a new stake in Diamondback Energy in the third quarter valued at approximately $247,000. 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.