Diamondback Energy (NASDAQ:FANG) Price Target Raised to $236.00 at Truist Financial

Diamondback Energy (NASDAQ:FANG) had its price target raised by Truist Financial from $230.00 to $236.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a buy rating on the oil and natural gas company’s stock.

Several other research firms also recently issued reports on FANG. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Morgan Stanley boosted their target price on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Evercore ISI reduced their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Wells Fargo & Company lifted their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler reduced their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.08.

Diamondback Energy Price Performance

Shares of FANG opened at $177.61 on Monday. The stock has a 50 day simple moving average of $170.72 and a 200 day simple moving average of $183.62. Diamondback Energy has a 52-week low of $147.93 and a 52-week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market capitalization of $51.86 billion, a PE ratio of 10.17, a P/E/G ratio of 1.19 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last released its quarterly 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 company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the company earned $5.49 EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts predict that Diamondback Energy will post 16.51 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.03%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The shares were 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 $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FANG. Carolinas Wealth Consulting LLC grew its position in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Diamondback Energy during the 3rd quarter valued at $42,000. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after purchasing an additional 136 shares in the last quarter. CVA Family Office LLC increased its position in shares of Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in Diamondback Energy in the third quarter valued at about $52,000. 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.