Diamondback Energy (NASDAQ:FANG) PT Lowered to $219.00

Diamondback Energy (NASDAQ:FANG) had its price objective dropped by investment analysts at Wells Fargo & Company from $230.00 to $219.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 23.33% from the company’s current price.

FANG has been the topic of several other reports. StockNews.com downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Benchmark reaffirmed a “buy” rating and issued a $154.00 price objective on shares of Diamondback Energy in a report on Tuesday, August 6th. Susquehanna dropped their price objective on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Evercore ISI dropped their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Bank of America upped their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $207.24.

Diamondback Energy Stock Up 3.0 %

Shares of NASDAQ FANG traded up $5.17 during trading hours on Tuesday, hitting $177.57. 1,948,168 shares of the stock were exchanged, compared to its average volume of 1,644,519. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The company has a market cap of $31.67 billion, a PE ratio of 10.01, a PEG ratio of 1.17 and a beta of 1.89. The firm has a fifty day moving average price of $188.52 and a 200-day moving average price of $195.43. Diamondback Energy has a 12 month low of $143.08 and a 12 month high of $214.50.

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 for the quarter, topping the consensus estimate 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 revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.68 EPS. On average, sell-side analysts expect that Diamondback Energy will post 18.97 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the 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 completion of the sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds have recently modified their holdings of FANG. Founders Capital Management grew its holdings in shares of Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 101 shares during the period. First Community Trust NA purchased a new stake in shares of Diamondback Energy in the second quarter valued at about $26,000. Carolinas Wealth Consulting LLC boosted its stake in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the period. Logan Capital Management Inc. purchased a new position in Diamondback Energy during the fourth quarter worth about $31,000. Finally, HHM Wealth Advisors LLC purchased a new position in Diamondback Energy during the second quarter worth about $40,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.