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

Diamondback Energy (NASDAQ:FANG) had its price target increased by Susquehanna from $212.00 to $245.00 in a research report report published on Monday, Benzinga reports. Susquehanna currently has a positive rating on the oil and natural gas company’s stock.

A number of other equities research analysts also recently weighed in on FANG. Evercore ISI raised their target price on Diamondback Energy from $185.00 to $215.00 and gave the company an outperform rating in a report on Monday, March 25th. Bank Of America (Bofa) reduced their target price on Diamondback Energy from $147.00 to $129.00 and set an underperform rating on the stock in a report on Thursday, January 18th. Truist Financial reduced their target price on Diamondback Energy from $250.00 to $248.00 and set a buy rating on the stock in a report on Friday, April 5th. Stifel Nicolaus raised their target price on Diamondback Energy from $192.00 to $224.00 and gave the company a buy rating in a report on Friday, March 22nd. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $202.53.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $205.24 on Monday. The firm has a market cap of $36.60 billion, a P/E ratio of 11.84 and a beta of 1.93. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. Diamondback Energy has a 1-year low of $123.41 and a 1-year high of $211.96. The business’s 50 day moving average is $192.11 and its 200-day moving average is $168.87.

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 analysts’ consensus estimates of $4.61 by $0.13. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.29 earnings per share. Equities research analysts predict that Diamondback Energy will post 18.67 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were given a dividend of $3.08 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.76%.

Insider Buying and Selling

In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the completion of the transaction, the chief financial officer now directly owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of Diamondback Energy 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 completion of the transaction, the chief financial officer now directly owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the transaction, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at $15,031,153.06. 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 in the last three months. Insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at about $257,000. Vontobel Holding Ltd. acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at about $928,000. HB Wealth Management LLC acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at about $324,000. Mach 1 Financial Group LLC acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at about $732,000. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at about $247,000. 90.01% of the stock is owned by institutional investors.

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.