UBS Group Lowers Diamondback Energy (NASDAQ:FANG) Price Target to $212.00

Diamondback Energy (NASDAQ:FANG) had its price objective lowered by analysts at UBS Group from $235.00 to $212.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the oil and natural gas company’s stock. UBS Group’s price objective points to a potential upside of 29.94% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Scotiabank decreased their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Jefferies Financial Group began coverage on shares of Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 price target on the stock. Piper Sandler upped their price target on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Finally, BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their target price for the company from $205.00 to $215.00 in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $212.17.

Diamondback Energy Trading Down 2.4 %

NASDAQ:FANG opened at $163.15 on Monday. The company has a market cap of $47.64 billion, a P/E ratio of 9.34, a P/E/G ratio of 1.23 and a beta of 1.88. The stock’s fifty day moving average price is $181.27 and its two-hundred day moving average price is $188.82. Diamondback Energy has a 1 year low of $146.82 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

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 (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.49 EPS. As a group, analysts expect that Diamondback Energy will post 16.26 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’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 completion of the sale, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Institutional Trading of Diamondback Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Retirement Systems of Alabama lifted its stake in Diamondback Energy by 6.1% in the third quarter. Retirement Systems of Alabama now owns 41,734 shares of the oil and natural gas company’s stock worth $7,195,000 after acquiring an additional 2,394 shares during the period. Franklin Resources Inc. lifted its stake in 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 worth $28,008,000 after acquiring an additional 47,951 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Diamondback Energy in the third quarter worth $138,000. World Investment Advisors LLC bought a new position in Diamondback Energy in the third quarter worth $3,935,000. Finally, Sanctuary Advisors LLC raised its holdings in Diamondback Energy by 0.4% in the third quarter. Sanctuary Advisors LLC now owns 49,411 shares of the oil and natural gas company’s stock worth $9,155,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other 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.