JPMorgan Chase & Co. Cuts Diamondback Energy (NASDAQ:FANG) Price Target to $166.00

Diamondback Energy (NASDAQ:FANG) had its price objective lowered by JPMorgan Chase & Co. from $167.00 to $166.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 35.06% from the stock’s previous close.

FANG has been the subject of several other research reports. Barclays decreased their price objective on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Citigroup upgraded shares of Diamondback Energy from a “reduce” rating to a “buy” rating and upped their price objective for the stock from $157.00 to $180.00 in a report on Monday. UBS Group lifted their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Truist Financial upped their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Mizuho boosted their price objective on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.25.

Diamondback Energy Trading Down 8.9 %

FANG traded down $12.02 during trading on Thursday, hitting $122.91. The company’s stock had a trading volume of 954,876 shares, compared to its average volume of 2,036,400. The firm has a market capitalization of $35.57 billion, a P/E ratio of 7.04, a PEG ratio of 1.24 and a beta of 1.44. Diamondback Energy has a twelve month low of $114.00 and a twelve month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $151.63 and its 200-day moving average price is $167.07.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Analysts anticipate that Diamondback Energy will post 15.49 EPS for the current year.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $28,000. R Squared Ltd purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. raised its holdings in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in Diamondback Energy in the fourth quarter worth $33,000. Finally, Key Financial Inc boosted its holdings in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

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.