Susquehanna Increases Diamondback Energy (NASDAQ:FANG) Price Target to $245.00

Diamondback Energy (NASDAQ:FANG) had its price objective lifted by stock analysts at Susquehanna from $212.00 to $245.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the oil and natural gas company’s stock. Susquehanna’s price objective would indicate a potential upside of 19.88% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Piper Sandler upped their price target on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Bank Of America (Bofa) decreased their price target 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. Bank of America upgraded Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $129.00 to $170.00 in a research note on Monday, February 12th. Evercore ISI upped their price target on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $202.53.

Diamondback Energy Trading Up 0.9 %

Shares of Diamondback Energy stock opened at $204.37 on Monday. The firm has a market capitalization of $36.45 billion, a price-to-earnings ratio of 11.79 and a beta of 1.93. Diamondback Energy has a fifty-two week low of $123.41 and a fifty-two week 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 stock has a 50 day moving average of $191.41 and a 200 day moving average of $168.61.

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

Insider Activity at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of the 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 of the company’s stock, valued at $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares in the company, valued at approximately $35,470,003.24. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock valued at $11,311,096 over the last quarter. 0.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds have recently made changes to their positions in the company. Wetzel Investment Advisors Inc. grew its holdings in shares of Diamondback Energy by 9.4% during the first quarter. Wetzel Investment Advisors Inc. now owns 859 shares of the oil and natural gas company’s stock worth $171,000 after buying an additional 74 shares during the last quarter. Sage Mountain Advisors LLC grew its holdings 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 buying an additional 61 shares during the last quarter. Aquila Investment Management LLC purchased a new position in shares of Diamondback Energy during the first quarter worth about $991,000. Hamel Associates Inc. purchased a new position in shares of Diamondback Energy during the first quarter worth about $228,000. Finally, Oak Harbor Wealth Partners LLC grew its holdings in shares of Diamondback Energy by 4.0% during the first quarter. Oak Harbor Wealth Partners LLC now owns 3,480 shares of the oil and natural gas company’s stock worth $690,000 after buying an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

About Diamondback Energy

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.