Barclays Trims Diamondback Energy (NASDAQ:FANG) Target Price to $166.00

Diamondback Energy (NASDAQ:FANGGet Rating) had its price target trimmed by Barclays from $173.00 to $166.00 in a report issued on Monday, The Fly reports. The firm currently has an overweight rating on the oil and natural gas company’s stock.

A number of other research firms have also weighed in on FANG. Raymond James upped their target price on shares of Diamondback Energy from $190.00 to $200.00 and gave the stock a strong-buy rating in a report on Monday, October 24th. KeyCorp decreased their target price on shares of Diamondback Energy from $182.00 to $171.00 and set an overweight rating on the stock in a report on Thursday, December 8th. Jefferies Financial Group started coverage on shares of Diamondback Energy in a report on Wednesday, October 19th. They issued a hold rating and a $159.00 price target on the stock. Susquehanna Bancshares increased their price target on shares of Diamondback Energy from $180.00 to $190.00 in a report on Wednesday, November 9th. Finally, Truist Financial increased their price target on shares of Diamondback Energy from $203.00 to $209.00 and gave the stock a buy rating in a report on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $181.48.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $149.35 on Monday. The stock has a market capitalization of $26.29 billion, a P/E ratio of 6.08, a PEG ratio of 0.28 and a beta of 2.00. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $142.10 and its 200 day moving average is $136.74. Diamondback Energy has a 12 month low of $103.71 and a 12 month high of $168.95.

Diamondback Energy (NASDAQ:FANGGet Rating) last posted its earnings results on Monday, November 7th. The oil and natural gas company reported $6.48 earnings per share for the quarter, missing analysts’ consensus estimates of $6.51 by ($0.03). The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.38 billion. Diamondback Energy had a return on equity of 28.49% and a net margin of 45.47%. On average, sell-side analysts anticipate that Diamondback Energy will post 24.5 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a None dividend, which was paid on Friday, November 25th. Shareholders of record on Thursday, November 17th were given a dividend of $2.26 per share. The ex-dividend date was Wednesday, November 16th. This represents a yield of 4.7%. Diamondback Energy’s payout ratio is currently 12.22%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, VP Matt Zmigrosky sold 2,012 shares of the stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $136.96, for a total transaction of $275,563.52. Following the completion of the sale, the vice president now owns 23,623 shares of the company’s stock, valued at approximately $3,235,406.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Atlas Private Wealth Advisors lifted its position in shares of Diamondback Energy by 6.2% in the 2nd quarter. Atlas Private Wealth Advisors now owns 7,229 shares of the oil and natural gas company’s stock worth $876,000 after purchasing an additional 423 shares during the period. MAI Capital Management lifted its position in shares of Diamondback Energy by 13.2% in the 2nd quarter. MAI Capital Management now owns 5,452 shares of the oil and natural gas company’s stock worth $661,000 after purchasing an additional 635 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Diamondback Energy by 1.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 14,867 shares of the oil and natural gas company’s stock worth $1,791,000 after purchasing an additional 201 shares during the period. Symmetry Partners LLC lifted its position in shares of Diamondback Energy by 13.1% in the 3rd quarter. Symmetry Partners LLC now owns 9,456 shares of the oil and natural gas company’s stock worth $1,139,000 after purchasing an additional 1,098 shares during the period. Finally, First Republic Investment Management Inc. lifted its position in shares of Diamondback Energy by 12.0% in the 2nd quarter. First Republic Investment Management Inc. now owns 702,275 shares of the oil and natural gas company’s stock worth $85,081,000 after purchasing an additional 75,060 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

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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