Diamondback Energy (NASDAQ:FANG) PT Raised to $186.00

Diamondback Energy (NASDAQ:FANG) had its price objective increased by stock analysts at Morgan Stanley from $177.00 to $186.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s price objective would indicate a potential downside of 5.98% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada restated an “outperform” rating and set a $195.00 price target on shares of Diamondback Energy in a research note on Monday, March 4th. Stifel Nicolaus increased their price objective on Diamondback Energy from $192.00 to $224.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Raymond James reduced their price objective on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Mizuho increased their price objective on Diamondback Energy from $177.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.11.

Diamondback Energy Stock Up 0.7 %

FANG stock traded up $1.30 on Thursday, hitting $197.83. 530,465 shares of the company’s stock were exchanged, compared to its average volume of 1,827,237. Diamondback Energy has a 12-month low of $123.41 and a 12-month high of $198.47. The firm has a 50 day moving average price of $171.93 and a two-hundred day moving average price of $161.65. 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 market cap of $35.30 billion, a P/E ratio of 11.40 and a beta of 1.92.

Diamondback Energy (NASDAQ:FANG) last announced 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 for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $5.29 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities research analysts expect that Diamondback Energy will post 17.93 EPS for the current fiscal year.

Insider Buying and Selling at Diamondback Energy

In other news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 in the company, valued at approximately $18,532,416. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 in the company, valued at approximately $18,532,416. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the sale, the vice president now owns 8,485 shares of the company’s stock, valued at $1,632,089.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,675 shares of company stock valued at $5,311,096. 0.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Diamondback Energy by 3.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock worth $278,000 after purchasing an additional 64 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Diamondback Energy by 1.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock worth $566,000 after purchasing an additional 64 shares during the period. MCF Advisors LLC lifted its stake in shares of Diamondback Energy by 8.6% during the 4th quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock worth $131,000 after purchasing an additional 67 shares during the period. Veracity Capital LLC lifted its stake in shares of Diamondback Energy by 3.5% during the 3rd quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock worth $319,000 after purchasing an additional 70 shares during the period. Finally, Bleakley Financial Group LLC lifted its stake in shares of Diamondback Energy by 2.5% during the 4th quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after purchasing an additional 75 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.