Diamondback Energy (NASDAQ:FANG) Given New $180.00 Price Target at KeyCorp

Diamondback Energy (NASDAQ:FANG - Get Free Report) had its price target reduced by equities research analysts at KeyCorp from $216.00 to $180.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the oil and natural gas company's stock. KeyCorp's target price points to a potential upside of 35.40% from the company's current price.

A number of other research analysts have also recently commented on FANG. Truist Financial upped their price target on Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research report on Thursday. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research report on Wednesday, March 5th. Citigroup upgraded shares of Diamondback Energy from a "reduce" rating to a "buy" rating and upped their price target for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Wells Fargo & Company lowered their target price on shares of Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. cut their price target on Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $204.29.

Diamondback Energy Stock Down 3.4 %

FANG traded down $4.70 during trading on Monday, hitting $132.94. 375,191 shares of the company's stock were exchanged, compared to its average volume of 2,079,330. The stock has a market cap of $39.10 billion, a P/E ratio of 7.61, a PEG ratio of 1.24 and a beta of 1.44. The business's 50 day moving average is $147.14 and its two-hundred day moving average is $164.65. Diamondback Energy has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. As a group, equities analysts expect that Diamondback Energy will post 15.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Demars Financial Group LLC purchased a new position in shares of Diamondback Energy during the 4th quarter worth approximately $638,050,000. Raymond James Financial Inc. bought a new position in Diamondback Energy in the fourth quarter worth $298,327,000. Alyeska Investment Group L.P. bought a new position in Diamondback Energy in the fourth quarter worth $185,193,000. Assenagon Asset Management S.A. lifted its position in Diamondback Energy by 1,153.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company's stock valued at $185,606,000 after buying an additional 1,042,505 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Diamondback Energy by 11.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after buying an additional 928,429 shares in the last quarter. 90.01% of the stock is currently owned by 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.

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