KeyCorp Has Lowered Expectations for Diamondback Energy (NASDAQ:FANG) Stock Price

Diamondback Energy (NASDAQ:FANG) had its price objective cut by equities researchers at KeyCorp from $216.00 to $180.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. KeyCorp’s price objective points to a potential upside of 35.40% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Wolfe Research upgraded 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 note on Friday, January 3rd. Barclays lowered their price objective on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Morgan Stanley reaffirmed an “overweight” rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. Raymond James lowered their price target on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. Finally, Citigroup upgraded Diamondback Energy from a “reduce” rating to a “buy” rating and upped their price objective for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Three research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $204.29.

Diamondback Energy Stock Down 3.4 %

Diamondback Energy stock traded down $4.70 during mid-day trading on Monday, hitting $132.94. The company had a trading volume of 375,191 shares, compared to its average volume of 2,079,330. Diamondback Energy has a 12 month low of $114.00 and a 12 month high of $214.50. The company has a market capitalization of $39.10 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The stock’s 50 day moving average price is $147.14 and its two-hundred day moving average price is $164.65. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

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

Insider Activity at Diamondback Energy

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

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors have recently modified their holdings of the stock. Mayfair Advisory Group LLC raised its stake in shares of Diamondback Energy by 21.0% in the first quarter. Mayfair Advisory Group LLC now owns 2,508 shares of the oil and natural gas company’s stock valued at $401,000 after acquiring an additional 436 shares during the period. Cushing Capital Partners LLC purchased a new stake in Diamondback Energy in the 1st quarter worth about $216,000. PKO Investment Management Joint Stock Co lifted its stake in Diamondback Energy by 5.5% in the first quarter. PKO Investment Management Joint Stock Co now owns 5,800 shares of the oil and natural gas company’s stock worth $927,000 after purchasing an additional 300 shares during the last quarter. Demars Financial Group LLC boosted its position in shares of Diamondback Energy by 5.3% during the first 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 buying an additional 208,200 shares during the period. Finally, Inscription Capital LLC bought a new position in shares of Diamondback Energy during the first quarter valued at approximately $803,000. 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.