Citigroup Lowers Diamondback Energy (NASDAQ:FANG) Price Target to $157.00

Diamondback Energy (NASDAQ:FANG) had its target price lowered by Citigroup from $195.00 to $157.00 in a report issued on Monday,Benzinga reports. Citigroup currently has a neutral rating on the oil and natural gas company’s stock.

Other equities analysts also recently issued reports about the stock. Piper Sandler lowered their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Wells Fargo & Company cut their price target 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a research note on Thursday, January 23rd. Morgan Stanley raised their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Raymond James lowered 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 report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.92.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $157.60 on Monday. The stock has a fifty day moving average of $161.05 and a 200-day moving average of $170.85. The company has a market capitalization of $45.62 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. Diamondback Energy has a one year low of $137.09 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

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

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a $1.00 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.54%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Insider Activity at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

Hedge funds have recently bought and sold shares of the company. 111 Capital bought a new position in Diamondback Energy in the 4th quarter valued at about $248,000. Thoma Capital Management LLC bought a new position in Diamondback Energy in the 4th quarter valued at about $640,000. Wealth Enhancement Advisory Services LLC raised its holdings in Diamondback Energy by 145.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,162 shares of the oil and natural gas company’s stock valued at $6,416,000 after acquiring an additional 23,191 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in Diamondback Energy by 6.5% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,758 shares of the oil and natural gas company’s stock valued at $288,000 after acquiring an additional 108 shares during the period. Finally, PKO Investment Management Joint Stock Co bought a new position in Diamondback Energy in the 4th quarter valued at about $901,000. 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.