Truist Financial Increases Diamondback Energy (NASDAQ:FANG) Price Target to $236.00

Diamondback Energy (NASDAQ:FANG) had its target price upped by Truist Financial from $230.00 to $236.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the oil and natural gas company’s stock.

Other research analysts also recently issued reports about the stock. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Piper Sandler decreased their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Evercore ISI decreased their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Finally, KeyCorp decreased their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $210.08.

Diamondback Energy Stock Up 1.1 %

Diamondback Energy stock opened at $179.56 on Monday. The stock has a market cap of $52.43 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.19 and a beta of 1.88. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $170.76 and its two-hundred day moving average price is $183.46. Diamondback Energy has a 52 week low of $147.93 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $5.49 EPS. On average, analysts expect that Diamondback Energy will post 16.51 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Carolinas Wealth Consulting LLC increased its holdings in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares during the period. Values First Advisors Inc. bought a new stake in Diamondback Energy in the 3rd quarter valued at $42,000. CVA Family Office LLC increased its holdings in Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after buying an additional 65 shares during the period. Oliver Lagore Vanvalin Investment Group increased its holdings in Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after buying an additional 136 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in Diamondback Energy in the 3rd quarter valued at $52,000. Institutional investors own 90.01% of the company’s stock.

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.