Diamondback Energy (NASDAQ:FANG) PT Raised to $225.00 at KeyCorp

Diamondback Energy (NASDAQ:FANG) had its price objective hoisted by investment analysts at KeyCorp from $210.00 to $225.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. KeyCorp’s target price suggests a potential upside of 10.09% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Susquehanna lifted their price objective on shares of Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a report on Monday. Raymond James lowered their price target on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Barclays assumed coverage on shares of Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 target price on the stock. Mizuho boosted their target price on Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, Scotiabank raised their price target on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.53.

Diamondback Energy Trading Up 0.9 %

NASDAQ:FANG opened at $204.37 on Monday. Diamondback Energy has a 12 month low of $123.41 and a 12 month high of $211.96. The firm has a fifty day simple moving average of $191.41 and a 200-day simple moving average of $168.61. 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 $36.45 billion, a P/E ratio of 11.79 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the company posted $5.29 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Diamondback Energy will post 18.53 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 78,218 shares in the company, valued at approximately $15,031,153.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wetzel Investment Advisors Inc. raised its position in shares of Diamondback Energy by 9.4% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 859 shares of the oil and natural gas company’s stock worth $171,000 after purchasing an additional 74 shares during the last quarter. Sage Mountain Advisors LLC raised its holdings in Diamondback Energy by 4.5% in the 1st quarter. Sage Mountain Advisors LLC now owns 1,420 shares of the oil and natural gas company’s stock valued at $281,000 after acquiring an additional 61 shares during the last quarter. Aquila Investment Management LLC acquired a new position in Diamondback Energy in the 1st quarter valued at $991,000. Hamel Associates Inc. purchased a new stake in shares of Diamondback Energy during the 1st quarter valued at $228,000. Finally, Oak Harbor Wealth Partners LLC grew its stake in shares of Diamondback Energy by 4.0% during the 1st quarter. Oak Harbor Wealth Partners LLC now owns 3,480 shares of the oil and natural gas company’s stock valued at $690,000 after buying an additional 133 shares during the period. 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.