Diamondback Energy (NASDAQ:FANG) Price Target Lowered to $216.00 at KeyCorp

Diamondback Energy (NASDAQ:FANG) had its price target cut by analysts at KeyCorp from $225.00 to $216.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and natural gas company’s stock. KeyCorp’s target price points to a potential upside of 20.15% from the stock’s current price.

FANG has been the topic of a number of other reports. Wolfe Research initiated coverage on Diamondback Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Evercore ISI lowered their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. StockNews.com cut Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. Finally, Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.86.

Diamondback Energy Price Performance

FANG opened at $179.77 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The company has a market capitalization of $32.06 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 1.22 and a beta of 1.89. The firm’s fifty day moving average price is $187.12 and its two-hundred day moving average price is $195.08. Diamondback Energy has a 1 year low of $145.70 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 37.51% and a return on equity of 19.54%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.68 EPS. As a group, analysts anticipate that Diamondback Energy will post 19.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by insiders.

Institutional Trading of Diamondback Energy

Several hedge funds and other institutional investors have recently bought and sold shares of FANG. Centaurus Financial Inc. lifted its position in Diamondback Energy by 26.5% in the fourth quarter. Centaurus Financial Inc. now owns 1,285 shares of the oil and natural gas company’s stock valued at $199,000 after purchasing an additional 269 shares during the last quarter. Syon Capital LLC bought a new stake in Diamondback Energy in the fourth quarter valued at approximately $224,000. American International Group Inc. lifted its position in Diamondback Energy by 1.2% in the fourth quarter. American International Group Inc. now owns 61,507 shares of the oil and natural gas company’s stock valued at $9,539,000 after purchasing an additional 704 shares during the last quarter. Fisher Asset Management LLC lifted its position in Diamondback Energy by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 134,354 shares of the oil and natural gas company’s stock valued at $20,836,000 after purchasing an additional 416 shares during the last quarter. Finally, HighPoint Advisor Group LLC bought a new stake in Diamondback Energy in the fourth quarter valued at approximately $414,000. Institutional investors own 90.01% of the company’s stock.

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.