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

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

Several other analysts have also issued reports on FANG. Mizuho raised their price target on shares of Diamondback Energy from $200.00 to $217.00 and gave the stock a buy rating in a research report on Thursday, April 11th. Truist Financial decreased their price target on shares of Diamondback Energy from $250.00 to $248.00 and set a buy rating on the stock in a research report on Friday, April 5th. BMO Capital Markets lifted their target price 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. Scotiabank lifted their target price on shares of Diamondback Energy from $210.00 to $255.00 and gave the company a sector outperform rating in a research report on Thursday, April 11th. Finally, Bank of America upgraded shares of Diamondback Energy from an underperform rating to a neutral rating and lifted their target price for the company from $129.00 to $170.00 in a research report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $202.53.

Diamondback Energy Stock Up 0.4 %

Diamondback Energy stock opened at $205.24 on Monday. The company has a market capitalization of $36.60 billion, a P/E ratio of 11.84 and a beta of 1.93. The firm’s fifty day simple moving average is $192.11 and its 200-day simple moving average is $168.87. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. Diamondback Energy has a 1-year low of $123.41 and a 1-year high of $211.96.

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 firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $5.29 EPS. Sell-side analysts forecast that Diamondback Energy will post 18.67 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a dividend of $3.08 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a yield of 6.00%. Diamondback Energy’s dividend payout ratio is presently 20.76%.

Insiders Place Their Bets

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the sale, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at $15,031,153.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Diamondback Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its position in shares of Diamondback Energy by 39.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after purchasing an additional 858,446 shares during the period. Diamond Hill Capital Management Inc. bought a new position in shares of Diamondback Energy in the third quarter valued at about $128,720,000. Wellington Management Group LLP raised its position in shares of Diamondback Energy by 4.8% in the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after purchasing an additional 648,317 shares during the period. Raymond James & Associates raised its position in shares of Diamondback Energy by 143.0% in the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after purchasing an additional 577,514 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Diamondback Energy by 286.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock valued at $92,380,000 after purchasing an additional 441,411 shares during the period. 90.01% of the stock is owned by institutional investors.

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.