Diamondback Energy (NASDAQ:FANG) Given New $207.00 Price Target at Mizuho

Diamondback Energy (NASDAQ:FANG) had its price objective decreased by research analysts at Mizuho from $219.00 to $207.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the oil and natural gas company’s stock. Mizuho’s price target would suggest a potential upside of 29.26% from the company’s current price.

FANG has been the subject of several other reports. UBS Group lowered their target price on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Benchmark reiterated a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. Raymond James raised their price target on shares of Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 19th. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 price objective for the company. Finally, Truist Financial boosted their target price on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.70.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $160.14 on Monday. The stock has a 50-day moving average price of $178.01 and a two-hundred day moving average price of $187.38. Diamondback Energy has a 12 month low of $147.93 and a 12 month high of $214.50. The company has a market capitalization of $46.76 billion, a PE ratio of 9.17, a P/E/G ratio of 1.21 and a beta of 1.88. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business earned $5.49 earnings per share. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Analysts expect that Diamondback Energy will post 16.28 EPS for the current year.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds have recently modified their holdings of the stock. Retirement Systems of Alabama lifted its holdings in Diamondback Energy by 6.1% during the third quarter. Retirement Systems of Alabama now owns 41,734 shares of the oil and natural gas company’s stock valued at $7,195,000 after purchasing an additional 2,394 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after purchasing an additional 47,951 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Diamondback Energy during the 3rd quarter valued at approximately $138,000. World Investment Advisors LLC bought a new position in Diamondback Energy in the 3rd quarter worth approximately $3,935,000. Finally, Sanctuary Advisors LLC grew its stake in Diamondback Energy by 0.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 49,411 shares of the oil and natural gas company’s stock valued at $9,155,000 after buying an additional 176 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

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.