Diamondback Energy (NASDAQ:FANG) Given New $195.00 Price Target at JPMorgan Chase & Co.

Diamondback Energy (NASDAQ:FANG) had its target price lifted by JPMorgan Chase & Co. from $191.00 to $195.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the oil and natural gas company’s stock.

FANG has been the topic of a number of other research reports. UBS Group cut their price target on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Truist Financial upped their price target on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Scotiabank cut their price target 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.63.

Diamondback Energy Trading Up 0.6 %

NASDAQ FANG opened at $180.18 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market cap of $52.61 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. The company has a 50 day moving average price of $170.60 and a 200 day moving average price of $183.24. Diamondback Energy has a 52 week low of $147.93 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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). The firm 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 company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.49 EPS. As a group, sell-side analysts forecast that Diamondback Energy will post 16.08 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s 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 transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Several hedge funds and other institutional investors have recently bought and sold shares of FANG. Carolinas Wealth Consulting LLC increased 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 purchasing an additional 55 shares during the last quarter. UMB Bank n.a. increased its position in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the third quarter worth about $42,000. CVA Family Office LLC increased its position in Diamondback Energy by 28.1% during 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 last quarter. Finally, Oliver Lagore Vanvalin Investment Group increased its position in Diamondback Energy by 109.7% during the second 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 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.