Diamondback Energy (NASDAQ:FANG) Given New $200.00 Price Target at Barclays

Diamondback Energy (NASDAQ:FANG) had its price target decreased by equities researchers at Barclays from $210.00 to $200.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and natural gas company’s stock. Barclays‘s target price points to a potential upside of 30.69% from the company’s previous close.

Several other brokerages have also recently commented on FANG. Citigroup decreased their price objective on shares of Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday. Wells Fargo & Company decreased their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Mizuho boosted their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Truist Financial boosted their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Raymond James decreased their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $209.92.

Diamondback Energy Stock Up 1.9 %

NASDAQ:FANG opened at $153.03 on Tuesday. 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 twelve month low of $137.09 and a twelve month high of $214.50. The company’s 50 day moving average is $161.67 and its two-hundred day moving average is $171.22. The company has a market cap of $44.29 billion, a PE ratio of 8.76, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Analysts anticipate that Diamondback Energy will post 15.49 EPS for the current year.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a legal 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

A number of hedge funds have recently modified their holdings of FANG. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at about $28,000. R Squared Ltd purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at about $29,000. UMB Bank n.a. grew its holdings in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at about $33,000. Finally, Key Financial Inc grew its holdings in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 188 shares during the period. 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.