Diamondback Energy (NASDAQ:FANG) Price Target Lowered to $207.00 at Mizuho

Diamondback Energy (NASDAQ:FANG) had its price target decreased by Mizuho from $219.00 to $207.00 in a research note issued to investors on Monday morning,Benzinga reports. Mizuho currently has an outperform rating on the oil and natural gas company’s stock.

A number of other equities analysts also recently issued reports on FANG. KeyCorp cut their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial lifted their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley raised their price objective on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Wells Fargo & Company reiterated a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Finally, StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus target price of $210.70.

Diamondback Energy Trading Down 2.5 %

NASDAQ FANG opened at $156.08 on Monday. Diamondback Energy has a 52-week low of $147.93 and a 52-week high of $214.50. The firm has a 50-day moving average price of $177.26 and a 200 day moving average price of $187.16. The stock has a market capitalization of $45.57 billion, a P/E ratio of 8.93, a P/E/G ratio of 1.21 and a beta of 1.88. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS 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 business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the business earned $5.49 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts expect that Diamondback Energy will post 16.28 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.31%. Diamondback Energy’s payout ratio is 20.61%.

Insider Buying and Selling

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

Institutional Trading of Diamondback Energy

A number of institutional investors and hedge funds have recently bought and sold shares of FANG. Carolinas Wealth Consulting LLC grew its stake 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 during the period. Financial Advocates Investment Management lifted its holdings in shares of Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after acquiring an additional 55 shares in the last quarter. Center For Asset Management LLC boosted its position in Diamondback Energy by 3.3% during the 2nd quarter. Center For Asset Management LLC now owns 1,859 shares of the oil and natural gas company’s stock worth $372,000 after purchasing an additional 60 shares during the period. Brighton Jones LLC increased its holdings in Diamondback Energy by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company’s stock valued at $1,566,000 after purchasing an additional 60 shares in the last quarter. Finally, Greenup Street Wealth Management LLC raised its position in Diamondback Energy by 3.4% in the third quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock valued at $313,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.