UBS Group Trims Diamondback Energy (NASDAQ:FANG) Target Price to $245.00

Diamondback Energy (NASDAQ:FANG) had its price target decreased by research analysts at UBS Group from $257.00 to $245.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the oil and natural gas company’s stock. UBS Group’s target price points to a potential upside of 24.80% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Mizuho raised their target price on shares of Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Sanford C. Bernstein decreased their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Susquehanna upped their target price on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Stifel Nicolaus raised their price target on Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Piper Sandler boosted their price objective on Diamondback Energy from $247.00 to $249.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $212.25.

Diamondback Energy Trading Down 2.5 %

NASDAQ FANG traded down $4.97 during trading hours on Tuesday, hitting $196.32. 321,742 shares of the company were exchanged, compared to its average volume of 1,561,744. The stock has a market cap of $35.01 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 1.06 and a beta of 1.90. Diamondback Energy has a 52 week low of $143.08 and a 52 week high of $214.50. The stock has a 50-day moving average price of $198.08 and a 200 day moving average price of $191.98. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.68 EPS. Analysts forecast that Diamondback Energy will post 18.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares in the company, valued at $13,736,123.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors have recently bought and sold shares of FANG. Founders Capital Management lifted its holdings in shares of Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 101 shares during the last quarter. First Community Trust NA purchased a new stake in Diamondback Energy in the second quarter valued at about $26,000. Carolinas Wealth Consulting LLC boosted its holdings in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Logan Capital Management Inc. purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $31,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the second quarter worth about $40,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.