Diamondback Energy (NASDAQ:FANG) PT Raised to $250.00

Diamondback Energy (NASDAQ:FANG) had its price objective increased by Truist Financial from $248.00 to $250.00 in a report published on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the oil and natural gas company’s stock.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus lifted their target price on shares of Diamondback Energy from $192.00 to $224.00 and gave the company a buy rating in a research note on Friday, March 22nd. Bank Of America (Bofa) reduced their price target on shares of Diamondback Energy from $147.00 to $129.00 and set an underperform rating on the stock in a report on Thursday, January 18th. BMO Capital Markets lifted their price target on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a market perform rating in a report on Tuesday, February 13th. Piper Sandler lifted their price target on shares of Diamondback Energy from $227.00 to $247.00 and gave the company an overweight rating in a report on Friday, April 19th. Finally, Raymond James reduced their price target on shares of Diamondback Energy from $190.00 to $185.00 and set a strong-buy rating on the stock in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $202.53.

Diamondback Energy Trading Up 0.4 %

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

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company earned $5.29 EPS. Diamondback Energy’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Diamondback Energy will post 18.67 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were given a $3.08 dividend. This represents a $12.32 annualized dividend and a yield of 6.00%. 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. Diamondback Energy’s payout ratio is 20.76%.

Insider Buying and Selling at Diamondback Energy

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

Institutional Investors Weigh In On Diamondback Energy

Several hedge funds have recently modified their holdings of FANG. International Assets Investment Management LLC bought a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $257,000. Vontobel Holding Ltd. acquired a new stake in shares of Diamondback Energy in the third quarter worth $928,000. HB Wealth Management LLC acquired a new stake in shares of Diamondback Energy in the third quarter worth $324,000. Mach 1 Financial Group LLC acquired a new stake in shares of Diamondback Energy in the third quarter worth $732,000. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Diamondback Energy in the third quarter worth $247,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.