Diamondback Energy (NASDAQ:FANG) Price Target Lowered to $207.00 at Wells Fargo & Company

Diamondback Energy (NASDAQ:FANG) had its price target cut by equities researchers at Wells Fargo & Company from $215.00 to $207.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 55.47% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Mizuho boosted their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. Williams Trading set a $190.00 price objective on Diamondback Energy in a report on Wednesday, March 5th. UBS Group cut their price objective on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a research note on Thursday. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a report on Friday, January 3rd. Finally, Citigroup upgraded shares of Diamondback Energy from a “reduce” rating to a “buy” rating and boosted their target price for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.79.

Diamondback Energy Trading Down 3.3 %

FANG stock traded down $4.50 during trading on Monday, hitting $133.14. The company had a trading volume of 295,831 shares, compared to its average volume of 2,079,022. 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 firm has a market capitalization of $39.16 billion, a P/E ratio of 7.62, a PEG ratio of 1.24 and a beta of 1.44. The company has a 50 day simple moving average of $147.14 and a 200-day simple moving average of $164.65. Diamondback Energy has a 52-week low of $114.00 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly 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. As a group, research analysts forecast that Diamondback Energy will post 15.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Diamondback Energy

Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the last quarter. Boston Partners lifted its stake in shares of Diamondback Energy by 12.4% in the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock valued at $849,202,000 after purchasing an additional 571,820 shares during the last quarter. Geode Capital Management LLC raised its holdings in Diamondback Energy by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock valued at $769,706,000 after buying an additional 91,605 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Diamondback Energy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after buying an additional 502,916 shares during the last quarter. Finally, Demars Financial Group LLC raised its stake in shares of Diamondback Energy by 5.3% in the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company’s stock valued at $655,953,000 after acquiring an additional 208,200 shares in the last quarter. 90.01% of the stock is 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.