Diamondback Energy (NASDAQ:FANG) Price Target Cut to $200.00 by Analysts at Barclays

Diamondback Energy (NASDAQ:FANG - Free Report) had its price objective decreased by Barclays from $210.00 to $200.00 in a research note released on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the oil and natural gas company's stock.

Several other research analysts have also weighed in on FANG. Citigroup decreased their price objective on shares of Diamondback Energy from $195.00 to $157.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Raymond James decreased their price target on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating for the company in a research note on Wednesday, March 12th. The Goldman Sachs Group initiated coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a "buy" rating and a $227.00 price objective on the stock. Truist Financial lifted their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. dropped their price target on Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $209.92.

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Diamondback Energy Stock Up 0.0 %

Shares of NASDAQ FANG traded up $0.02 during midday trading on Tuesday, reaching $158.50. 7,798,113 shares of the company's stock were exchanged, compared to its average volume of 1,871,369. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy has a 52-week low of $137.09 and a 52-week high of $214.50. The business's fifty day moving average price is $160.47 and its two-hundred day moving average price is $170.51. The stock has a market capitalization of $45.88 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Analysts forecast that Diamondback Energy will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a dividend of $1.00 per share. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.52%. Diamondback Energy's payout ratio is presently 25.32%.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares of the company's stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at $28,000. R Squared Ltd purchased a new stake in Diamondback Energy during the fourth quarter valued at about $29,000. UMB Bank n.a. boosted its holdings in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock worth $31,000 after buying an additional 136 shares during the period. Fourth Dimension Wealth LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth approximately $33,000. Finally, Key Financial Inc raised its holdings in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after acquiring an additional 188 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

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.