Diamondback Energy (NASDAQ:FANG) Stock Price Expected to Rise, Truist Financial Analyst Says

Diamondback Energy (NASDAQ:FANG) had its price target hoisted by investment analysts at Truist Financial from $230.00 to $236.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Truist Financial’s price objective indicates a potential upside of 32.82% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Piper Sandler lowered their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. KeyCorp reduced their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Scotiabank dropped their price objective on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.08.

Diamondback Energy Stock Up 0.0 %

FANG stock opened at $177.68 on Monday. The firm has a market cap of $51.88 billion, a PE ratio of 10.17, a P/E/G ratio of 1.19 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm’s fifty day moving average is $170.76 and its 200 day moving average is $183.46. Diamondback Energy has a one year low of $147.93 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the business earned $5.49 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, research analysts forecast that Diamondback Energy will post 16.51 EPS for the current year.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Diamondback Energy

A number of large investors have recently bought and sold shares of the company. LPL Financial LLC grew its stake in Diamondback Energy by 12.6% in the 2nd quarter. LPL Financial LLC now owns 198,965 shares of the oil and natural gas company’s stock valued at $39,831,000 after acquiring an additional 22,194 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Diamondback Energy by 2.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 38,135 shares of the oil and natural gas company’s stock worth $7,594,000 after acquiring an additional 932 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Diamondback Energy by 218.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,432 shares of the oil and natural gas company’s stock worth $487,000 after acquiring an additional 1,668 shares during the period. Envestnet Asset Management Inc. lifted its position in Diamondback Energy by 7.7% during the second quarter. Envestnet Asset Management Inc. now owns 396,737 shares of the oil and natural gas company’s stock valued at $79,423,000 after buying an additional 28,432 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its position in Diamondback Energy by 4.7% during the second quarter. J.W. Cole Advisors Inc. now owns 3,122 shares of the oil and natural gas company’s stock valued at $625,000 after buying an additional 141 shares in the last quarter. Hedge funds and other institutional investors 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.