Diamondback Energy (NASDAQ:FANG) Given New $236.00 Price Target at Truist Financial

Diamondback Energy (NASDAQ:FANG - Free Report) had its price objective lifted by Truist Financial from $230.00 to $236.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the oil and natural gas company's stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com raised shares of Diamondback Energy from a "sell" rating to a "hold" rating in a report on Wednesday, November 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Wednesday, November 6th. Morgan Stanley lifted their price objective on Diamondback Energy from $185.00 to $198.00 and gave the company an "overweight" rating in a report on Monday, September 16th. Benchmark reissued a "buy" rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. Finally, Piper Sandler decreased their price target on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of "Moderate Buy" and an average price target of $210.08.

Diamondback Energy Stock Performance

NASDAQ FANG traded up $2.84 during midday trading on Monday, hitting $177.61. The company had a trading volume of 3,035,415 shares, compared to its average volume of 2,211,468. The firm has a fifty day simple moving average of $170.72 and a two-hundred day simple moving average of $183.62. The stock has a market cap of $51.86 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 1.19 and a beta of 1.88. 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 has a fifty-two week low of $147.93 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly 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 firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the firm earned $5.49 earnings per share. The company's revenue was up 13.0% on a year-over-year basis. Equities analysts forecast that Diamondback Energy will post 16.51 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Thursday, November 14th. Diamondback Energy's dividend payout ratio (DPR) is 20.61%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.48% of the company's stock.

Hedge Funds Weigh In On Diamondback Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Carolinas Wealth Consulting LLC lifted its position in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company's stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Values First Advisors Inc. acquired a new position in Diamondback Energy during the 3rd quarter worth approximately $42,000. Oliver Lagore Vanvalin Investment Group grew its stake in shares of Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company's stock worth $52,000 after acquiring an additional 136 shares in the last quarter. CVA Family Office LLC raised its holdings in shares of Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company's stock valued at $51,000 after purchasing an additional 65 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Diamondback Energy in the third quarter worth $52,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.