Susquehanna Lowers Diamondback Energy (NASDAQ:FANG) Price Target to $233.00

Diamondback Energy (NASDAQ:FANG) had its price objective decreased by stock analysts at Susquehanna from $237.00 to $233.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “positive” rating on the oil and natural gas company’s stock. Susquehanna’s price target would suggest a potential upside of 26.64% from the company’s current price.

FANG has been the topic of several other reports. Scotiabank cut their target price on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Truist Financial upped their price objective on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup assumed coverage on Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price for the company. Morgan Stanley upped their price target on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group began coverage on Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

Diamondback Energy Trading Up 0.0 %

FANG opened at $183.99 on Friday. Diamondback Energy has a 52 week low of $145.70 and a 52 week high of $214.50. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $186.35 and a 200-day simple moving average of $194.77. The firm has a market cap of $32.81 billion, a P/E ratio of 10.37, a P/E/G ratio of 1.22 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. Diamondback Energy’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period last year, the business posted $3.68 EPS. On average, equities analysts expect that Diamondback Energy will post 19.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HighPoint Advisor Group LLC acquired a new stake in Diamondback Energy during the 4th quarter worth approximately $414,000. Fulton Bank N.A. purchased a new position in Diamondback Energy in the 1st quarter valued at $398,000. Wedmont Private Capital increased its stake in Diamondback Energy by 5.2% in the 1st quarter. Wedmont Private Capital now owns 2,964 shares of the oil and natural gas company’s stock valued at $609,000 after buying an additional 147 shares during the period. Park Avenue Securities LLC raised its position in Diamondback Energy by 6.8% during the 1st quarter. Park Avenue Securities LLC now owns 4,236 shares of the oil and natural gas company’s stock worth $839,000 after buying an additional 269 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Diamondback Energy by 10.0% in the 1st quarter. International Assets Investment Management LLC now owns 1,889 shares of the oil and natural gas company’s stock worth $377,000 after acquiring an additional 172 shares during the period. 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.