Susquehanna Raises Diamondback Energy (NASDAQ:FANG) Price Target to $245.00

Diamondback Energy (NASDAQ:FANGGet Free Report) had its price target upped by Susquehanna from $212.00 to $245.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “positive” rating on the oil and natural gas company’s stock. Susquehanna’s target price suggests a potential upside of 22.05% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. KeyCorp boosted their price objective on shares of Diamondback Energy from $186.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Monday, March 4th. Truist Financial decreased their target price on Diamondback Energy from $250.00 to $248.00 and set a “buy” rating for the company in a research report on Friday, April 5th. BMO Capital Markets increased their price target on Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 13th. Finally, Scotiabank lifted their price objective on Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $201.37.

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Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $200.74 on Monday. 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 company has a market capitalization of $35.80 billion, a price-to-earnings ratio of 11.58 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 firm’s 50-day moving average is $189.90 and its 200 day moving average is $167.83.

Diamondback Energy (NASDAQ:FANGGet Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. Diamondback Energy’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $5.29 EPS. Research analysts predict that Diamondback Energy will post 18.53 EPS for the current year.

Insider Buying and Selling at Diamondback Energy

In other news, VP Jere W. Thompson III sold 2,675 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the sale, the vice president now 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 can be accessed through this link. In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the sale, the vice president now owns 8,485 shares in the company, valued at approximately $1,632,089.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,675 shares of company stock worth $11,311,096. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Founders Capital Management grew its holdings in Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 101 shares during the period. BKM Wealth Management LLC acquired a new stake in Diamondback Energy in the 4th quarter valued at $27,000. Hobbs Group Advisors LLC purchased a new stake in Diamondback Energy in the 4th quarter worth $27,000. BluePath Capital Management LLC acquired a new position in Diamondback Energy during the third quarter worth $28,000. Finally, FinTrust Capital Advisors LLC lifted its holdings in Diamondback Energy by 232.8% during the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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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