Diamondback Energy (NASDAQ:FANG) Price Target Lowered to $214.00 at Raymond James

Diamondback Energy (NASDAQ:FANG) had its price target decreased by research analysts at Raymond James from $245.00 to $214.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “strong-buy” rating on the oil and natural gas company’s stock. Raymond James’ price objective would suggest a potential upside of 46.42% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research report on Friday, January 3rd. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Morgan Stanley boosted their target price on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Williams Trading set a $190.00 price target on Diamondback Energy in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $213.08.

Diamondback Energy Stock Performance

Diamondback Energy stock traded up $1.50 during mid-day trading on Wednesday, reaching $146.15. The company had a trading volume of 868,877 shares, compared to its average volume of 2,434,042. The company has a 50 day moving average of $163.18 and a 200-day moving average of $172.54. Diamondback Energy has a 52 week low of $137.09 and a 52 week high of $214.50. 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 $42.30 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 1.24 and a beta of 1.84.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. On average, sell-side analysts expect that Diamondback Energy will post 15.49 EPS for the current fiscal year.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Diamondback Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lakewood Asset Management LLC raised its holdings in shares of Diamondback Energy by 0.5% in the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after purchasing an additional 60 shares during the period. West Family Investments Inc. grew its stake in shares of Diamondback Energy by 3.4% during the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock worth $319,000 after acquiring an additional 61 shares during the period. Magnolia Capital Advisors LLC increased its holdings in Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after acquiring an additional 64 shares during the last quarter. Barden Capital Management Inc. increased its holdings in Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after acquiring an additional 64 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in Diamondback Energy by 2.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock valued at $482,000 after acquiring an additional 65 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.