Diamondback Energy (NASDAQ:FANG) Price Target Raised to $250.00

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

Other analysts have also recently issued research reports about the company. KeyCorp raised their target price on Diamondback Energy from $210.00 to $225.00 and gave the stock an overweight rating in a research report on Monday. UBS Group raised their target price on Diamondback Energy from $183.00 to $200.00 and gave the company a buy rating in a report on Wednesday, February 14th. Morgan Stanley lowered their target price on Diamondback Energy from $186.00 to $184.00 and set an overweight rating on the stock in a report on Monday, April 15th. Royal Bank of Canada reaffirmed an outperform rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Monday, March 4th. Finally, Piper Sandler raised their target price on Diamondback Energy from $227.00 to $247.00 and gave the company an overweight rating in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $202.53.

Diamondback Energy Stock Up 0.4 %

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

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

Diamondback Energy Increases Dividend

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

Insider Activity

In other news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Tuesday, April 2nd. The stock was 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Tuesday, April 2nd. The stock was 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at $18,532,416. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,675 shares of company stock valued at $11,311,096. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

A number of institutional investors have recently made changes to their positions in the stock. Sage Mountain Advisors LLC grew its stake in shares of Diamondback Energy by 4.5% during the first quarter. Sage Mountain Advisors LLC now owns 1,420 shares of the oil and natural gas company’s stock worth $281,000 after purchasing an additional 61 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Diamondback Energy by 3.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock worth $278,000 after purchasing an additional 64 shares during the period. Coldstream Capital Management Inc. lifted its holdings in Diamondback Energy by 1.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock worth $566,000 after acquiring an additional 64 shares in the last quarter. MCF Advisors LLC lifted its holdings in Diamondback Energy by 8.6% during the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock worth $131,000 after acquiring an additional 67 shares in the last quarter. Finally, Veracity Capital LLC lifted its holdings in Diamondback Energy by 3.5% during the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock worth $319,000 after acquiring an additional 70 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

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.