Diamondback Energy (NASDAQ:FANG) PT Raised to $225.00 at KeyCorp

Diamondback Energy (NASDAQ:FANG) had its price target raised by KeyCorp from $210.00 to $225.00 in a research note released on Monday, Benzinga reports. They currently have an overweight rating on the oil and natural gas company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Truist Financial lowered their target price on shares of Diamondback Energy from $250.00 to $248.00 and set a buy rating on the stock in a research note on Friday, April 5th. Stifel Nicolaus lifted their target price on shares of Diamondback Energy from $192.00 to $224.00 and gave the stock a buy rating in a research note on Friday, March 22nd. Royal Bank of Canada reaffirmed an outperform rating and set a $195.00 target price on shares of Diamondback Energy in a research note on Monday, March 4th. Barclays began coverage on shares of Diamondback Energy in a research note on Wednesday, April 10th. They set an equal weight rating and a $214.00 target price on the stock. Finally, Scotiabank lifted their target price on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a sector outperform rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $202.53.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $207.10 on Monday. The firm has a market cap of $36.93 billion, a PE ratio of 11.94 and a beta of 1.93. The firm has a fifty day moving average of $192.69 and a 200 day moving average of $169.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. Diamondback Energy has a one year low of $123.41 and a one year high of $211.96.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.29 EPS. As a group, research analysts predict that Diamondback Energy will post 18.84 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were given a $3.08 dividend. The ex-dividend date was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a yield of 5.95%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is presently 20.76%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.94, for a total transaction of $969,700.00. Following the sale, the executive vice president now owns 44,445 shares in the company, valued at $8,619,663.30. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock valued at $11,311,096 over the last 90 days. 0.43% of the stock is owned by insiders.

Institutional Trading of Diamondback Energy

A number of institutional investors and hedge funds have recently bought and sold shares of FANG. Founders Capital Management increased its stake in Diamondback Energy by 404.0% during the first 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 during the period. BKM Wealth Management LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter worth approximately $27,000. BluePath Capital Management LLC purchased a new stake in shares of Diamondback Energy during the third quarter worth approximately $28,000. Logan Capital Management Inc. purchased a new stake in shares of Diamondback Energy during the fourth quarter worth approximately $31,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter worth approximately $34,000. 90.01% of the stock is currently owned by hedge funds and other 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.