Diamondback Energy (NASDAQ:FANG) Price Target Raised to $190.00

Diamondback Energy (NASDAQ:FANG) had its price target lifted by research analysts at Barclays from $185.00 to $190.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and natural gas company’s stock. Barclays‘s price target would suggest a potential upside of 4.27% from the stock’s current price.

A number of other research analysts have also recently weighed in on FANG. Scotiabank set a $175.00 target price on shares of Diamondback Energy in a research note on Friday, January 16th. Morgan Stanley decreased their price target on shares of Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Citigroup lowered their price target on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Roth Mkm reiterated a “buy” rating and issued a $180.00 price objective on shares of Diamondback Energy in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company increased their price objective on Diamondback Energy from $171.00 to $202.00 and gave the company an “overweight” rating in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $193.38.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded down $0.15 during trading hours on Monday, hitting $182.23. 687,044 shares of the company’s stock traded hands, compared to its average volume of 2,737,724. The stock has a market capitalization of $51.26 billion, a price-to-earnings ratio of 32.48 and a beta of 0.59. Diamondback Energy has a 12-month low of $114.00 and a 12-month high of $186.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.42 and a quick ratio of 0.40. The company has a fifty day simple moving average of $164.13 and a 200-day simple moving average of $152.52.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.26). The company had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Diamondback Energy had a return on equity of 8.08% and a net margin of 11.07%.Diamondback Energy’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period last year, the firm posted $3.67 earnings per share. Equities research analysts anticipate that Diamondback Energy will post 15.49 EPS for the current fiscal year.

Insider Activity

In related news, Director Charles Alvin Meloy sold 7,857 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $183.27, for a total transaction of $1,439,952.39. Following the completion of the transaction, the director owned 974,149 shares of the company’s stock, valued at approximately $178,532,287.23. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total transaction of $162,880,000.00. Following the transaction, the insider directly owned 98,686,727 shares of the company’s stock, valued at approximately $16,074,094,093.76. This represents a 1.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,168,462 shares of company stock worth $192,197,747 over the last ninety days. Company insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FANG. Commerzbank Aktiengesellschaft FI lifted its position in Diamondback Energy by 233.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 12,673 shares of the oil and natural gas company’s stock valued at $1,814,000 after purchasing an additional 8,877 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Diamondback Energy by 9.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,733 shares of the oil and natural gas company’s stock valued at $16,848,000 after buying an additional 10,289 shares in the last quarter. Moloney Securities Asset Management LLC bought a new stake in shares of Diamondback Energy during the 3rd quarter worth $472,000. Massachusetts Financial Services Co. MA grew its position in Diamondback Energy by 9.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,385,428 shares of the oil and natural gas company’s stock worth $198,255,000 after acquiring an additional 122,921 shares in the last quarter. Finally, WoodTrust Financial Corp bought a new position in Diamondback Energy in the third quarter valued at $1,624,000. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.