Diamondback Energy (NASDAQ:FANG) Price Target Raised to $263.00

Diamondback Energy (NASDAQ:FANG) had its target price raised by analysts at UBS Group from $260.00 to $263.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. UBS Group‘s target price suggests a potential upside of 45.32% from the stock’s current price.

A number of other equities research analysts have also recently commented on FANG. Raymond James Financial restated a “strong-buy” rating on shares of Diamondback Energy in a research note on Thursday, September 17th. Capital One Financial increased their price objective on shares of Diamondback Energy from $272.00 to $283.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Seaport Research Partners began coverage on shares of Diamondback Energy in a research note on Thursday, September 3rd. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of Diamondback Energy from $211.00 to $233.00 in a research report on Wednesday, August 5th. Finally, Stephens reiterated an “outperform” rating on shares of Diamondback Energy in a research note on Tuesday, October 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.39.

Diamondback Energy Stock Performance

NASDAQ:FANG traded up $2.90 during mid-day trading on Wednesday, hitting $180.98. 1,402,539 shares of the company traded hands, compared to its average volume of 2,584,095. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average price is $194.88 and its 200-day moving average price is $190.21. The firm has a market cap of $50.52 billion, a price-to-earnings ratio of 24.76 and a beta of 0.49. Diamondback Energy has a one year low of $139.41 and a one year high of $216.90.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 2nd. The oil and natural gas company reported $5.86 EPS for the quarter, topping the consensus estimate of $5.72 by $0.14. Diamondback Energy had a return on equity of 11.86% and a net margin of 11.03%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter last year, the company earned $3.08 earnings per share. The business’s revenue for the quarter was up 38.4% compared to the same quarter last year. Research analysts anticipate that Diamondback Energy will post 22.57 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Charles Meloy sold 33,333 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $183.74, for a total value of $6,124,605.42. Following the sale, the director directly owned 759,864 shares in the company, valued at approximately $139,617,411.36. This represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis D. Stice sold 75,000 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $204.31, for a total value of $15,323,250.00. Following the completion of the sale, the director owned 49,727 shares in the company, valued at approximately $10,159,723.37. The trade was a 60.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Diamondback Energy

Several hedge funds have recently bought and sold shares of FANG. BlackRock Inc. purchased a new stake in Diamondback Energy in the second quarter worth $3,303,362,000. Wellington Management Group LLP lifted its position in shares of Diamondback Energy by 31.3% during the second quarter. Wellington Management Group LLP now owns 16,420,247 shares of the oil and natural gas company’s stock worth $2,886,351,000 after purchasing an additional 3,918,943 shares during the last quarter. State Street Corp boosted its stake in shares of Diamondback Energy by 4.2% during the second quarter. State Street Corp now owns 12,562,224 shares of the oil and natural gas company’s stock valued at $2,208,188,000 after purchasing an additional 510,281 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Diamondback Energy during the second quarter valued at $852,791,000. Finally, Bank of America Corp DE boosted its stake in shares of Diamondback Energy by 4.5% during the first quarter. Bank of America Corp DE now owns 1,368,069 shares of the oil and natural gas company’s stock valued at $270,590,000 after purchasing an additional 59,023 shares during the period. Institutional investors own 90.01% of the company’s stock.

Key Headlines Impacting Diamondback Energy

Here are a few of the latest headlines about FANG:

• Positive Sentiment: Diamondback and KKR agreed to acquire Five Point Infrastructure’s 70% stake in Deep Blue Midland Basin, where Diamondback already owns 30%. The deal would give the partners joint ownership of the produced-water platform, supporting infrastructure capacity and Diamondback’s strategy of securing services for its West Texas operations. Diamondback Energy and KKR to Acquire Deep Blue Midland Basin from Five Point Infrastructure
• Positive Sentiment: Recent broker-rating revisions and projected 2026 earnings growth have also been cited as supportive of FANG. Buy These 3 Stocks with Broker Rating Upgrades for Big Gains
• Negative Sentiment: One recent analysis cautioned that the stock may look richly valued after its multiyear gains and recent dividend and guidance increases. The article also flags oil prices as an important risk to earnings and returns. Diamondback Energy Stock May Look Rich Following Raised Dividend And Guidance

Diamondback Energy Company Profile

Diamondback Energy is an independent oil and natural gas company focused on the development and production of energy resources in the Permian Basin, primarily in West Texas and southeastern New Mexico. Its operations include exploration, drilling and production. The company produces crude oil, natural gas and natural gas liquids. Its activities are concentrated in the Midland and Delaware Basin regions, where it develops oil and gas properties and related reserves. Founded in 2007 and headquartered in Midland, Texas, Diamondback has expanded its Permian Basin operations over time, including through acquisitions.