Diamondback Energy (NASDAQ:FANG – Get Rating) had its target price increased by stock analysts at Citigroup to $148.00 in a research note issued on Monday, Stock Target Advisor reports. Citigroup’s price target suggests a potential upside of 22.10% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. Truist Financial upped their price objective on Diamondback Energy from $170.00 to $200.00 in a research note on Thursday, April 21st. Bank of America lowered Diamondback Energy from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $165.00 to $170.00 in a research note on Tuesday, March 8th. Barclays upped their price objective on Diamondback Energy from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 14th. Susquehanna upped their price objective on Diamondback Energy from $152.00 to $167.00 and gave the stock a “positive” rating in a research note on Monday, April 25th. Finally, KeyCorp upped their price objective on Diamondback Energy from $152.00 to $164.00 and gave the stock an “overweight” rating in a research note on Friday, April 8th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $168.88.
NASDAQ:FANG traded up $0.06 during mid-day trading on Monday, hitting $121.21. 88,210 shares of the company traded hands, compared to its average volume of 2,950,833. The stock’s fifty day moving average price is $136.50 and its 200-day moving average price is $131.35. Diamondback Energy has a one year low of $65.93 and a one year high of $162.24. The company has a quick ratio of 0.69, a current ratio of 0.72 and a debt-to-equity ratio of 0.42. The firm has a market cap of $21.51 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 0.21 and a beta of 2.20.
Diamondback Energy (NASDAQ:FANG – Get Rating) last released its quarterly earnings results on Monday, May 2nd. The oil and natural gas company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.46. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $1.93 billion. Diamondback Energy had a return on equity of 19.91% and a net margin of 34.17%. During the same quarter in the previous year, the company posted $2.30 earnings per share. Equities analysts predict that Diamondback Energy will post 26.16 EPS for the current year.
In related news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $150.01, for a total value of $4,500,300.00. Following the completion of the transaction, the chief executive officer now owns 428,497 shares in the company, valued at approximately $64,278,834.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Teresa L. Dick sold 2,500 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $152.22, for a total value of $380,550.00. Following the completion of the transaction, the chief accounting officer now owns 57,308 shares of the company’s stock, valued at approximately $8,723,423.76. The disclosure for this sale can be found here. Insiders have sold a total of 44,500 shares of company stock worth $6,740,850 in the last ninety days. Insiders own 0.42% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Diamondback Energy during the 1st quarter worth approximately $219,000. Offit Capital Advisors LLC purchased a new stake in shares of Diamondback Energy during the 1st quarter valued at approximately $202,000. Brasada Capital Management LP raised its position in shares of Diamondback Energy by 26.7% during the 1st quarter. Brasada Capital Management LP now owns 13,222 shares of the oil and natural gas company’s stock valued at $1,812,000 after buying an additional 2,790 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Diamondback Energy by 57.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,823 shares of the oil and natural gas company’s stock valued at $2,718,000 after purchasing an additional 7,253 shares during the period. Finally, Walleye Capital LLC raised its position in Diamondback Energy by 338.4% in the first quarter. Walleye Capital LLC now owns 148,685 shares of the oil and natural gas company’s stock valued at $20,382,000 after purchasing an additional 114,772 shares during the period. Institutional investors own 89.97% of the company’s stock.
About Diamondback Energy (Get Rating)
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.