Diamondback Energy (NASDAQ:FANG) Price Target Lowered to $218.00 at Wells Fargo & Company

Diamondback Energy (NASDAQ:FANG) had its target price lowered by research analysts at Wells Fargo & Company from $219.00 to $218.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and natural gas company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 19.39% from the company’s current price.

A number of other equities analysts also recently weighed in on FANG. Evercore ISI reduced their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Citigroup began coverage on Diamondback Energy in a research report on Monday. They set a “neutral” rating and a $195.00 price target for the company. Piper Sandler upped their price target on Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research report on Tuesday. StockNews.com cut Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. Finally, Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

Diamondback Energy Stock Down 0.7 %

Shares of FANG traded down $1.36 on Friday, hitting $182.60. The company’s stock had a trading volume of 225,286 shares, compared to its average volume of 1,730,086. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average price is $186.67 and its 200-day moving average price is $194.92. Diamondback Energy has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The firm has a market capitalization of $32.57 billion, a price-to-earnings ratio of 10.32, a P/E/G ratio of 1.22 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the firm earned $3.68 EPS. Diamondback Energy’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy will post 19.08 EPS for the current year.

Insiders Place Their Bets

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the 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 transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Diamondback Energy by 25.1% during the 3rd quarter. Blue Trust Inc. now owns 3,068 shares of the oil and natural gas company’s stock worth $529,000 after buying an additional 616 shares during the period. Net Worth Advisory Group acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth $633,000. Stratos Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth $1,786,000. Aaron Wealth Advisors LLC grew its holdings in shares of Diamondback Energy by 10.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 1,759 shares of the oil and natural gas company’s stock worth $303,000 after purchasing an additional 169 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of Diamondback Energy by 57.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,901 shares of the oil and natural gas company’s stock worth $328,000 after purchasing an additional 696 shares in the last quarter. Institutional investors 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.