Stifel Nicolaus Increases Diamondback Energy (NASDAQ:FANG) Price Target to $229.00

Diamondback Energy (NASDAQ:FANG) had its price target raised by investment analysts at Stifel Nicolaus from $224.00 to $229.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 11.58% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Morgan Stanley reduced their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Bank Of America (Bofa) reduced their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research note on Thursday, January 18th. Barclays assumed coverage on shares of Diamondback Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price objective for the company. KeyCorp lifted their price objective on shares of Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Scotiabank lifted their price objective on shares of Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $202.53.

Diamondback Energy Trading Up 0.4 %

Shares of FANG stock opened at $205.24 on Tuesday. The company has a 50 day moving average of $192.11 and a 200-day moving average of $168.87. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy has a 12-month low of $123.41 and a 12-month high of $211.96. The firm has a market cap of $36.60 billion, a P/E ratio of 11.84 and a beta of 1.93.

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

Insider Transactions at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction 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 is accessible through this hyperlink. In other news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction 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 is accessible through this hyperlink. Also, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction 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 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. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

A number of large investors have recently added to or reduced their stakes in FANG. International Assets Investment Management LLC purchased a new position in Diamondback Energy in the 3rd quarter worth $257,000. Vontobel Holding Ltd. purchased a new position in Diamondback Energy in the 3rd quarter worth $928,000. HB Wealth Management LLC purchased a new position in shares of Diamondback Energy in the third quarter valued at about $324,000. CreativeOne Wealth LLC purchased a new position in shares of Diamondback Energy in the third quarter valued at about $247,000. Finally, Riverwater Partners LLC purchased a new position in shares of Diamondback Energy in the third quarter valued at about $217,000. Hedge funds and other 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.