Diamondback Energy (NASDAQ:FANG) PT Raised to $170.00 at Citigroup

Diamondback Energy (NASDAQ:FANGGet Rating) had its price target boosted by Citigroup from $155.00 to $170.00 in a research report sent to investors on Tuesday, The Fly reports.

A number of other equities research analysts also recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Diamondback Energy from $170.00 to $175.00 and gave the stock an overweight rating in a research note on Monday, August 29th. Roth Capital upped their target price on shares of Diamondback Energy from $150.00 to $182.00 in a research report on Tuesday, November 1st. TD Securities raised their price target on Diamondback Energy from $170.00 to $185.00 and gave the stock a buy rating in a research report on Tuesday, November 8th. Truist Financial lifted their price objective on Diamondback Energy from $203.00 to $209.00 and gave the stock a buy rating in a research note on Friday, November 18th. Finally, MKM Partners increased their target price on Diamondback Energy to $170.00 in a research note on Tuesday, November 15th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued 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 an average target price of $181.85.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $149.99 on Tuesday. The stock has a market cap of $26.40 billion, a price-to-earnings ratio of 6.11, a P/E/G ratio of 0.28 and a beta of 2.06. Diamondback Energy has a 12-month low of $95.02 and a 12-month high of $168.95. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 0.37. The business’s 50-day simple moving average is $144.69 and its 200 day simple moving average is $135.48.

Diamondback Energy announced that its Board of Directors has initiated a share buyback plan on Monday, August 1st that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the oil and natural gas company to buy up to 17.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Diamondback Energy Dividend Announcement

The company also recently declared a None dividend, which will be paid on Friday, November 25th. Stockholders of record on Thursday, November 17th will be issued a $2.26 dividend. The ex-dividend date is Wednesday, November 16th. This represents a dividend yield of 4.7%. Diamondback Energy’s dividend payout ratio (DPR) is 12.22%.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors have recently bought and sold shares of the company. Adirondack Trust Co. raised its holdings in shares of Diamondback Energy by 275.0% in the third quarter. Adirondack Trust Co. now owns 225 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 165 shares during the last quarter. Private Trust Co. NA acquired a new stake in Diamondback Energy in the 2nd quarter valued at $28,000. SOA Wealth Advisors LLC. lifted its position in Diamondback Energy by 72.1% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 241 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 101 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its position in Diamondback Energy by 366.7% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 176 shares in the last quarter. Finally, First Personal Financial Services acquired a new position in shares of Diamondback Energy during the 3rd quarter worth about $32,000. Institutional investors own 92.45% of the company’s stock.

Diamondback Energy Company Profile

(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.

Further Reading

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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