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

Diamondback Energy (NASDAQ:FANG) had its price objective raised by Stifel Nicolaus from $224.00 to $229.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

Several other brokerages also recently issued reports on FANG. BMO Capital Markets increased their price objective on Diamondback Energy from $167.00 to $175.00 and gave the stock a market perform rating in a research note on Tuesday, February 13th. Evercore ISI increased their price objective on Diamondback Energy from $185.00 to $215.00 and gave the stock an outperform rating in a research note on Monday, March 25th. Truist Financial increased their price objective on Diamondback Energy from $248.00 to $250.00 and gave the stock a buy rating in a research note on Monday, April 22nd. Morgan Stanley reduced their price objective on Diamondback Energy from $186.00 to $184.00 and set an overweight rating for the company in a research note on Monday, April 15th. Finally, KeyCorp upped their target price on Diamondback Energy from $210.00 to $225.00 and gave the stock an overweight rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $202.53.

Diamondback Energy Trading Up 0.3 %

Shares of NASDAQ FANG opened at $207.76 on Tuesday. Diamondback Energy has a 12 month low of $123.41 and a 12 month high of $211.96. The company has a market cap of $37.05 billion, a price-to-earnings ratio of 11.98 and a beta of 1.93. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $193.25 and a 200-day simple moving average of $169.49.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data 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. The firm had revenue of $2.23 billion during 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 business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $5.29 EPS. Sell-side analysts predict that Diamondback Energy will post 18.83 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, March 4th. This represents a $12.32 annualized dividend and a yield of 5.93%. Diamondback Energy’s dividend payout ratio is presently 20.76%.

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 2,000 shares of the 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 owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Diamondback Energy 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 owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock worth $11,311,096 in the last 90 days. 0.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Diamondback Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SYSTM Wealth Solutions LLC lifted its position in shares of Diamondback Energy by 244.6% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 1,206 shares of the oil and natural gas company’s stock worth $239,000 after buying an additional 856 shares during the period. Mesirow Financial Investment Management Inc. bought a new position in shares of Diamondback Energy during the 1st quarter worth approximately $263,000. Financial Insights Inc. lifted its position in shares of Diamondback Energy by 22.0% during the 1st quarter. Financial Insights Inc. now owns 2,025 shares of the oil and natural gas company’s stock worth $401,000 after buying an additional 365 shares during the period. Checchi Capital Advisers LLC lifted its position in shares of Diamondback Energy by 10.7% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,831 shares of the oil and natural gas company’s stock worth $561,000 after buying an additional 274 shares during the period. Finally, Lindbrook Capital LLC lifted its position in shares of Diamondback Energy by 10.5% during the 1st quarter. Lindbrook Capital LLC now owns 940 shares of the oil and natural gas company’s stock worth $186,000 after buying an additional 89 shares during the period. 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.