Diamondback Energy (NASDAQ:FANG) Price Target Raised to $256.00 at Raymond James

Diamondback Energy (NASDAQ:FANG) had its price objective upped by investment analysts at Raymond James from $237.00 to $256.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “strong-buy” rating on the oil and natural gas company’s stock. Raymond James’ price objective would indicate a potential upside of 44.65% from the stock’s current price.

FANG has been the topic of a number of other research reports. Citigroup initiated coverage on Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Thursday. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Benchmark reiterated a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Finally, StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Price Performance

NASDAQ:FANG traded down $0.61 during trading hours on Thursday, reaching $176.98. 581,600 shares of the company’s stock were exchanged, compared to its average volume of 1,883,793. The company has a market capitalization of $51.68 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. Diamondback Energy has a 12 month low of $147.93 and a 12 month high of $214.50. The business’s 50-day simple moving average is $170.46 and its two-hundred day simple moving average is $182.51. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company posted $5.49 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. Sell-side analysts expect that Diamondback Energy will post 15.58 EPS for the current fiscal year.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Diamondback Energy

Several large investors have recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in Diamondback Energy in the 4th quarter valued at $29,000. UMB Bank n.a. raised its holdings in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Values First Advisors Inc. acquired a new position in Diamondback Energy during the 3rd quarter valued at about $42,000. CVA Family Office LLC boosted its stake in shares of 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 purchasing an additional 65 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group grew its position in shares of Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after buying an additional 136 shares during the period. 90.01% of the stock is owned by institutional investors.

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.