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

Diamondback Energy (NASDAQ:FANG) had its price target trimmed by KeyCorp from $225.00 to $216.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the oil and natural gas company’s stock.

A number of other analysts have also commented on FANG. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Johnson Rice lowered Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Morgan Stanley increased their target price on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. StockNews.com lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. Finally, Truist Financial lowered their price objective on shares of Diamondback Energy from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, September 30th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Diamondback Energy Price Performance

Shares of FANG opened at $183.99 on Wednesday. The firm has a market cap of $32.81 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. Diamondback Energy has a 52-week low of $145.70 and a 52-week high of $214.50. The business’s 50 day moving average price is $186.35 and its two-hundred day moving average price is $194.81. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The company 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%. Diamondback Energy’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.68 EPS. On average, equities analysts anticipate that Diamondback Energy will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a dividend of $2.34 per share. The ex-dividend date was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

Insider Buying and Selling

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

Institutional Trading of Diamondback Energy

A number of large investors have recently bought and sold shares of FANG. Price T Rowe Associates Inc. MD increased its holdings in Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after acquiring an additional 2,381,488 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after purchasing an additional 415,902 shares during the period. Boston Partners lifted its stake in shares of Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after buying an additional 1,916,900 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Diamondback Energy by 10.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after buying an additional 247,065 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in Diamondback Energy by 7.1% in the 2nd quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company’s stock worth $495,236,000 after buying an additional 164,732 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.