Diamondback Energy (NASDAQ:FANG) Given New $245.00 Price Target at Susquehanna

Diamondback Energy (NASDAQ:FANGGet Free Report) had its price objective lifted by research analysts at Susquehanna from $212.00 to $245.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “positive” rating on the oil and natural gas company’s stock. Susquehanna’s price objective suggests a potential upside of 19.88% from the stock’s previous close.

A number of other brokerages have also commented on FANG. Raymond James decreased their price target on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Mizuho boosted their price target on shares of Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. BMO Capital Markets boosted their price target on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a research note on Tuesday, February 13th. Stifel Nicolaus boosted their price target on shares of Diamondback Energy from $192.00 to $224.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays started coverage on shares of Diamondback Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.53.

Check Out Our Latest Research Report on FANG

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $204.37 on Monday. The company has a fifty day moving average of $191.41 and a 200-day moving average of $168.61. The firm has a market capitalization of $36.45 billion, a P/E ratio of 11.79 and a beta of 1.93. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy has a twelve month low of $123.41 and a twelve month high of $211.96.

Diamondback Energy (NASDAQ:FANGGet Free Report) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.13. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. Diamondback Energy’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.29 EPS. As a group, sell-side analysts anticipate that Diamondback Energy will post 18.53 EPS for the current year.

Insider Buying and Selling

In related news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Trust N.A. raised its stake in Diamondback Energy by 145.2% in the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock valued at $1,860,000 after acquiring an additional 7,102 shares during the period. Larson Financial Group LLC raised its stake in Diamondback Energy by 748.0% in the 4th quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock valued at $2,361,000 after acquiring an additional 13,426 shares during the period. Sequoia Financial Advisors LLC raised its stake in Diamondback Energy by 613.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock valued at $2,388,000 after acquiring an additional 13,243 shares during the period. Raymond James & Associates raised its stake in Diamondback Energy by 143.0% in the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after acquiring an additional 577,514 shares during the period. Finally, Morgan Stanley raised its stake in Diamondback Energy by 2.6% in the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock valued at $541,175,000 after acquiring an additional 89,663 shares during the period. 90.01% of the stock is currently owned by institutional investors.

About Diamondback Energy

(Get Free Report)

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.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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