Stifel Nicolaus Increases Diamondback Energy (NASDAQ:FANG) Price Target to $229.00

Diamondback Energy (NASDAQ:FANG) had its target price raised by analysts at Stifel Nicolaus from $224.00 to $229.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 11.58% from the company’s previous close.

FANG has been the subject of a number of other research reports. Scotiabank increased their target price on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Susquehanna increased their target price on Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a report on Monday. Bank Of America (Bofa) lowered their target price on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a report on Thursday, January 18th. Mizuho increased their target price on Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, Piper Sandler increased their target price on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $202.53.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $205.24 on Tuesday. The company has a market capitalization of $36.60 billion, a PE ratio of 11.84 and a beta of 1.93. Diamondback Energy has a 12 month low of $123.41 and a 12 month high of $211.96. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. The stock’s fifty day simple moving average is $192.11 and its 200 day simple moving average is $168.87.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $5.29 EPS. On average, research analysts predict that Diamondback Energy will post 18.67 EPS for the current year.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at $18,532,416. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the completion of the sale, the vice president now directly owns 8,485 shares in the company, valued at $1,632,089.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,675 shares of company stock worth $11,311,096. Insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Diamondback Energy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after acquiring an additional 176,208 shares during the last quarter. Wellington Management Group LLP increased its stake in Diamondback Energy by 4.8% in the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after acquiring an additional 648,317 shares during the last quarter. Morgan Stanley increased its stake in Diamondback Energy by 2.6% in the third 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 last quarter. Invesco Ltd. increased its stake in Diamondback Energy by 6.6% in the third quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock valued at $514,289,000 after acquiring an additional 206,189 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Diamondback Energy by 39.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after acquiring an additional 858,446 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.