Diamondback Energy (NASDAQ:FANG) Price Target Cut to $214.00 by Analysts at Raymond James

Diamondback Energy (NASDAQ:FANG) had its target price cut by Raymond James from $245.00 to $214.00 in a report published on Wednesday morning,Benzinga reports. They currently have a strong-buy rating on the oil and natural gas company’s stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their target price on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research note on Friday, January 3rd. Mizuho boosted their target price on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group began coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. Finally, Williams Trading set a $190.00 target price on Diamondback Energy in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.92.

Diamondback Energy Trading Up 3.0 %

FANG opened at $150.20 on Wednesday. The firm has a market cap of $43.47 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 1.24 and a beta of 1.84. 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 has a 12 month low of $137.09 and a 12 month high of $214.50. The stock has a fifty day moving average price of $162.00 and a 200-day moving average price of $171.85.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, equities research analysts anticipate that Diamondback Energy will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is 25.32%.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds have recently bought and sold shares of the business. Wintrust Investments LLC purchased a new position in Diamondback Energy during the fourth quarter worth approximately $28,000. R Squared Ltd purchased a new position in Diamondback Energy during the fourth quarter worth approximately $29,000. UMB Bank n.a. boosted its position in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in Diamondback Energy during the fourth quarter worth approximately $33,000. Finally, Key Financial Inc boosted its position in Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 188 shares in the last quarter. Hedge funds and other 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.