Diamondback Energy (NASDAQ:FANG) PT Raised to $225.00 at KeyCorp

Diamondback Energy (NASDAQ:FANG) had its price target boosted by equities researchers at KeyCorp from $210.00 to $225.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and natural gas company’s stock. KeyCorp’s price objective suggests a potential upside of 10.09% from the company’s previous close.

FANG has been the topic of several other reports. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $129.00 to $170.00 in a research report on Monday, February 12th. Piper Sandler upped their price target on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Scotiabank boosted their price objective on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Bank Of America (Bofa) reduced their price objective on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research note on Thursday, January 18th. Finally, UBS Group upped their price target on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $202.53.

Diamondback Energy Stock Up 0.9 %

FANG opened at $204.37 on Monday. The business has a 50 day moving average price of $191.41 and a 200 day moving average price of $168.61. Diamondback Energy has a twelve month low of $123.41 and a twelve month high of $211.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. The firm has a market cap of $36.45 billion, a P/E ratio of 11.79 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company earned $5.29 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts forecast that Diamondback Energy will post 18.53 EPS for the current year.

Insider Activity

In other news, CEO Travis D. Stice sold 30,000 shares of the firm’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 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 $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction 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 approximately $18,532,416. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s 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 transaction, the chief executive officer now owns 446,610 shares in the company, 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 over the last three months. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in Diamondback Energy during the 3rd quarter worth $257,000. Vontobel Holding Ltd. bought a new stake in Diamondback Energy during the 3rd quarter worth approximately $928,000. HB Wealth Management LLC bought a new position in shares of Diamondback Energy in the third quarter valued at approximately $324,000. Mach 1 Financial Group LLC bought a new position in shares of Diamondback Energy in the third quarter valued at approximately $732,000. Finally, CreativeOne Wealth LLC bought a new position in shares of Diamondback Energy in the third quarter valued at approximately $247,000. 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.