Barclays Cuts Diamondback Energy (NASDAQ:FANG) Price Target to $200.00

Diamondback Energy (NASDAQ:FANG) had its target price trimmed by Barclays from $210.00 to $200.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the oil and natural gas company’s stock.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. The Goldman Sachs Group began coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. Truist Financial increased their price target on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, Raymond James reduced their target price on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $209.92.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $158.48 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy has a 1-year low of $137.09 and a 1-year high of $214.50. The company has a market capitalization of $45.87 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.24 and a beta of 1.85. The business has a 50-day moving average of $160.80 and a 200-day moving average of $170.76.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. On average, equities analysts anticipate that Diamondback Energy will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.52%. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Insider Buying and Selling

In other news, Director Frank D. Tsuru acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

Large investors have recently made changes to their positions in the company. KBC Group NV raised its stake in Diamondback Energy by 11.8% during the 3rd quarter. KBC Group NV now owns 14,512 shares of the oil and natural gas company’s stock valued at $2,501,000 after acquiring an additional 1,531 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Diamondback Energy by 2.6% during the third quarter. Mutual of America Capital Management LLC now owns 23,098 shares of the oil and natural gas company’s stock valued at $3,982,000 after purchasing an additional 588 shares during the period. Swiss National Bank raised its stake in shares of Diamondback Energy by 11.7% during the third quarter. Swiss National Bank now owns 560,099 shares of the oil and natural gas company’s stock valued at $96,561,000 after purchasing an additional 58,500 shares in the last quarter. Caprock Group LLC lifted its holdings in Diamondback Energy by 3.0% in the third quarter. Caprock Group LLC now owns 8,074 shares of the oil and natural gas company’s stock worth $1,392,000 after purchasing an additional 237 shares during the period. Finally, Prospera Financial Services Inc grew its position in Diamondback Energy by 56.9% in the 3rd quarter. Prospera Financial Services Inc now owns 4,553 shares of the oil and natural gas company’s stock valued at $786,000 after buying an additional 1,651 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.