Susquehanna Raises Diamondback Energy (NASDAQ:FANG) Price Target to $245.00

Diamondback Energy (NASDAQ:FANG) had its price target raised by Susquehanna from $212.00 to $245.00 in a report published on Monday morning, Benzinga reports. Susquehanna currently has a positive rating on the oil and natural gas company’s stock.

FANG has been the subject of several other research reports. Scotiabank raised their target price on Diamondback Energy from $210.00 to $255.00 and gave the company a sector outperform rating in a research note on Thursday, April 11th. BMO Capital Markets increased their price target on Diamondback Energy from $167.00 to $175.00 and gave the company a market perform rating in a research report on Tuesday, February 13th. Barclays assumed coverage on Diamondback Energy in a research report on Wednesday, April 10th. They issued an equal weight rating and a $214.00 price target for the company. Mizuho increased their price target on Diamondback Energy from $200.00 to $217.00 and gave the company a buy rating in a research report on Thursday, April 11th. Finally, Truist Financial decreased their price target on Diamondback Energy from $250.00 to $248.00 and set a buy rating for the company in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of Moderate Buy and a consensus target price of $202.53.

Diamondback Energy Trading Up 0.4 %

Shares of FANG stock opened at $205.24 on Monday. The stock has a 50-day simple moving average of $192.11 and a 200 day simple moving average of $168.87. Diamondback Energy has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The stock has a market capitalization of $36.60 billion, a P/E ratio of 11.84 and a beta of 1.93. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business posted $5.29 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts expect that Diamondback Energy will post 18.67 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a $3.08 dividend. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.00%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the transaction, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,675 shares of company stock valued at $11,311,096. Corporate insiders own 0.43% of the company’s stock.

Institutional Trading of Diamondback Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. Raymond James Trust N.A. grew its holdings in shares of Diamondback Energy by 145.2% during the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock worth $1,860,000 after purchasing an additional 7,102 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Diamondback Energy by 748.0% during the 4th quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock worth $2,361,000 after purchasing an additional 13,426 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Diamondback Energy by 613.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after purchasing an additional 13,243 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Diamondback Energy by 143.0% during the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after purchasing an additional 577,514 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Diamondback Energy by 2.6% during the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock worth $541,175,000 after purchasing an additional 89,663 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.