Diamondback Energy (NASDAQ:FANG) Price Target Increased to $252.00 by Analysts at Piper Sandler

Diamondback Energy (NASDAQ:FANG) had its price target upped by analysts at Piper Sandler from $240.00 to $252.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and natural gas company’s stock. Piper Sandler’s price objective suggests a potential upside of 32.14% from the stock’s previous close.

FANG has been the topic of a number of other reports. KeyCorp began coverage on Diamondback Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective on the stock. Wells Fargo & Company decreased their price target on shares of Diamondback Energy from $230.00 to $219.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Diamondback Energy in a research note on Tuesday, September 17th. Scotiabank reduced their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.27.

Diamondback Energy Price Performance

FANG stock opened at $190.70 on Tuesday. The firm has a 50 day simple moving average of $187.31 and a two-hundred day simple moving average of $195.21. 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 stock has a market cap of $34.01 billion, a PE ratio of 10.75, a P/E/G ratio of 1.22 and a beta of 1.89. Diamondback Energy has a one year low of $145.70 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the business earned $3.68 earnings per share. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, analysts predict that Diamondback Energy will post 19.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Founders Capital Management boosted its position in shares of Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 101 shares in the last quarter. First Community Trust NA bought a new stake in Diamondback Energy in the second quarter worth $26,000. Carolinas Wealth Consulting LLC grew its stake in shares of 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 during the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the second quarter worth $40,000. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Diamondback Energy by 109.7% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 136 shares in the last quarter. Hedge funds and other 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.