Diamondback Energy (NASDAQ:FANG) Price Target Cut to $225.00

Diamondback Energy (NASDAQ:FANG) had its price target lowered by analysts at Scotiabank from $245.00 to $225.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the oil and natural gas company’s stock. Scotiabank’s price objective would suggest a potential upside of 15.41% from the company’s previous close.

FANG has been the subject of a number of other reports. BMO Capital Markets raised shares of 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 report on Friday, October 4th. Morgan Stanley lifted their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Evercore ISI reduced their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Benchmark raised their price objective on shares of Diamondback Energy from $154.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, UBS Group reduced their price objective on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.59.

Diamondback Energy Trading Up 0.5 %

Shares of NASDAQ FANG opened at $194.96 on Thursday. Diamondback Energy has a 1 year low of $145.70 and a 1 year high of $214.50. The stock has a market cap of $34.77 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The firm has a 50-day moving average of $187.20 and a 200 day moving average of $195.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64.

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

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy 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 owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Several large investors have recently added to or reduced their stakes in FANG. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Diamondback Energy by 178.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after buying an additional 19,552 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of Diamondback Energy by 92.8% in the fourth quarter. Integrated Advisors Network LLC now owns 13,031 shares of the oil and natural gas company’s stock worth $2,021,000 after buying an additional 6,272 shares in the last quarter. Kapitalo Investimentos Ltda lifted its holdings in shares of Diamondback Energy by 1,842.5% in the fourth quarter. Kapitalo Investimentos Ltda now owns 4,390 shares of the oil and natural gas company’s stock worth $681,000 after buying an additional 4,164 shares in the last quarter. Central Valley Advisors LLC purchased a new position in shares of Diamondback Energy in the first quarter worth $1,801,000. Finally, Cullen Investment Group LTD. lifted its holdings in shares of Diamondback Energy by 33.5% in the third quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock worth $2,065,000 after buying an additional 3,008 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.