Diamondback Energy (NASDAQ:FANG) Given New $237.00 Price Target at Raymond James

Diamondback Energy (NASDAQ:FANG) had its price target raised by research analysts at Raymond James from $232.00 to $237.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “strong-buy” rating on the oil and natural gas company’s stock. Raymond James’ target price would indicate a potential upside of 30.94% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Citigroup assumed coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They set a “neutral” rating and a $195.00 target price for the company. Evercore ISI reduced their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Bank of America upped their target price on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Truist Financial lifted their price target on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $212.00.

Diamondback Energy Trading Down 0.5 %

NASDAQ FANG opened at $181.00 on Tuesday. The stock has a market cap of $52.85 billion, a PE ratio of 10.41, a PEG ratio of 1.26 and a beta of 1.89. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy has a 12 month low of $145.70 and a 12 month high of $214.50. The company’s 50-day moving average price is $181.22 and its 200-day moving average price is $191.22.

Diamondback Energy (NASDAQ:FANG) last issued 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 business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.49 earnings per share. Equities research analysts forecast that Diamondback Energy will post 16.78 earnings per share for the current year.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 92.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quent Capital LLC increased its holdings in shares of Diamondback Energy by 7.2% in the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after purchasing an additional 54 shares during the last quarter. Carolinas Wealth Consulting LLC grew its holdings in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Financial Advocates Investment Management increased its stake in shares of Diamondback Energy by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after acquiring an additional 55 shares during the last quarter. Sugarloaf Wealth Management LLC raised its holdings in shares of Diamondback Energy by 0.3% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after acquiring an additional 56 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Diamondback Energy by 16.1% during the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after acquiring an additional 57 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.