Diamondback Energy (NASDAQ:FANG) Given New $236.00 Price Target at Truist Financial

Diamondback Energy (NASDAQ:FANG) had its target price boosted by research analysts at Truist Financial from $230.00 to $236.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Truist Financial’s target price suggests a potential upside of 32.19% from the company’s current price.

Several other research analysts have also recently commented on FANG. Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Citigroup began coverage on Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price for the company. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Raymond James boosted their price target on shares of Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $210.08.

Diamondback Energy Trading Up 2.2 %

FANG traded up $3.76 during mid-day trading on Monday, hitting $178.53. The stock had a trading volume of 254,420 shares, compared to its average volume of 1,805,260. Diamondback Energy has a 1-year low of $147.93 and a 1-year high of $214.50. The firm has a market capitalization of $52.13 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock’s fifty day simple moving average is $170.76 and its 200-day simple moving average is $183.77.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the company posted $5.49 earnings per share. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, research analysts forecast that Diamondback Energy will post 16.51 EPS for the current fiscal year.

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds have recently bought and sold shares of the business. Czech National Bank raised its holdings in shares of Diamondback Energy by 6.2% in the fourth quarter. Czech National Bank now owns 40,518 shares of the oil and natural gas company’s stock valued at $6,638,000 after buying an additional 2,352 shares during the last quarter. Sugarloaf Wealth Management LLC raised its stake in Diamondback Energy by 15.7% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 23,366 shares of the oil and natural gas company’s stock valued at $3,828,000 after acquiring an additional 3,175 shares during the last quarter. HBW Advisory Services LLC acquired a new stake in Diamondback Energy during the 4th quarter worth approximately $508,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Diamondback Energy by 4.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,608 shares of the oil and natural gas company’s stock valued at $2,863,000 after purchasing an additional 637 shares during the last quarter. Finally, First Hawaiian Bank raised its holdings in Diamondback Energy by 2.0% during the fourth quarter. First Hawaiian Bank now owns 12,792 shares of the oil and natural gas company’s stock worth $2,096,000 after purchasing an additional 245 shares in the last quarter. 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.