Diamondback Energy (NASDAQ:FANG) Price Target Raised to $256.00 at Raymond James

Diamondback Energy (NASDAQ:FANG) had its target price raised by Raymond James from $237.00 to $256.00 in a report released on Thursday,Benzinga reports. They currently have a strong-buy rating on the oil and natural gas company’s stock.

FANG has been the topic of a number of other research reports. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Mizuho reduced their price objective on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Piper Sandler dropped their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Citigroup began coverage on shares of Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price on the stock. Finally, Benchmark reiterated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Diamondback Energy Trading Down 1.9 %

Shares of FANG stock opened at $173.26 on Thursday. The stock has a market cap of $50.59 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.44 and a beta of 1.88. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. The business has a fifty day simple moving average of $170.28 and a 200-day simple moving average of $182.26.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the business posted $5.49 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. On average, analysts forecast that Diamondback Energy will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GDS Wealth Management grew its position in Diamondback Energy by 3.8% in the fourth quarter. GDS Wealth Management now owns 101,900 shares of the oil and natural gas company’s stock valued at $16,694,000 after acquiring an additional 3,736 shares in the last quarter. Hodges Capital Management Inc. grew its holdings in Diamondback Energy by 1.2% during the 4th quarter. Hodges Capital Management Inc. now owns 10,347 shares of the oil and natural gas company’s stock valued at $1,695,000 after purchasing an additional 120 shares in the last quarter. Magnolia Capital Advisors LLC grew its holdings in Diamondback Energy by 2.0% during the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after purchasing an additional 64 shares in the last quarter. CFM Wealth Partners LLC increased its stake in Diamondback Energy by 17.7% during the 4th quarter. CFM Wealth Partners LLC now owns 6,026 shares of the oil and natural gas company’s stock worth $987,000 after buying an additional 907 shares during the period. Finally, U.S. Capital Wealth Advisors LLC lifted its holdings in Diamondback Energy by 14.0% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 4,367 shares of the oil and natural gas company’s stock worth $715,000 after buying an additional 536 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

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.