Barclays Cuts Diamondback Energy (NASDAQ:FANG) Price Target to $200.00

Diamondback Energy (NASDAQ:FANG) had its price objective reduced by Barclays from $210.00 to $200.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the oil and natural gas company’s stock.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. cut their price target on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Morgan Stanley raised their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a report on Friday, January 3rd. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target for the company. Finally, Raymond James cut their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.92.

Diamondback Energy Stock Up 1.3 %

Diamondback Energy stock opened at $155.00 on Tuesday. Diamondback Energy has a 1-year low of $137.09 and a 1-year high of $214.50. The firm has a market capitalization of $44.86 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 1.24 and a beta of 1.85. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm has a 50 day simple moving average of $161.32 and a 200 day simple moving average of $170.94.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. On average, analysts predict that Diamondback Energy will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. The ex-dividend date was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.58%. Diamondback Energy’s payout ratio is currently 25.32%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by insiders.

Institutional Trading of Diamondback Energy

Several hedge funds have recently added to or reduced their stakes in the business. 111 Capital bought a new stake in Diamondback Energy in the fourth quarter worth $248,000. Thoma Capital Management LLC purchased a new position in shares of Diamondback Energy in the fourth quarter valued at about $640,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Diamondback Energy by 145.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,162 shares of the oil and natural gas company’s stock valued at $6,416,000 after acquiring an additional 23,191 shares during the period. NorthCrest Asset Manangement LLC increased its position in shares of Diamondback Energy by 6.5% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,758 shares of the oil and natural gas company’s stock valued at $288,000 after acquiring an additional 108 shares during the period. Finally, PKO Investment Management Joint Stock Co purchased a new position in shares of Diamondback Energy in the fourth quarter valued at about $901,000. 90.01% of the stock is owned by institutional investors.

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.