Diamondback Energy (NASDAQ:FANG - Get Free Report) had its price objective increased by investment analysts at Truist Financial from $238.00 to $242.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the oil and natural gas company's stock. Truist Financial's target price would indicate a potential upside of 78.36% from the stock's current price.
FANG has been the subject of a number of other research reports. Raymond James decreased their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating for the company in a report on Wednesday, March 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price objective on Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley reiterated an "overweight" rating on shares of Diamondback Energy in a research note on Tuesday, April 15th. Finally, Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price target for the stock from $157.00 to $180.00 in a report on Monday, April 7th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $202.75.
View Our Latest Analysis on FANG
Diamondback Energy Stock Up 2.5 %
Shares of FANG stock traded up $3.33 on Thursday, hitting $135.68. The stock had a trading volume of 701,704 shares, compared to its average volume of 2,081,047. Diamondback Energy has a 12-month low of $114.00 and a 12-month high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business has a 50 day moving average of $146.67 and a 200 day moving average of $164.21. The stock has a market cap of $39.90 billion, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, analysts expect that Diamondback Energy will post 15.49 EPS for the current year.
Insider Buying and Selling
In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares of the company's stock, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is owned by insiders.
Institutional Investors Weigh In On Diamondback Energy
Several hedge funds have recently added to or reduced their stakes in FANG. Demars Financial Group LLC bought a new position in Diamondback Energy in the 4th quarter worth about $638,050,000. Raymond James Financial Inc. bought a new position in shares of Diamondback Energy in the fourth quarter worth approximately $298,327,000. Alyeska Investment Group L.P. purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $185,193,000. Assenagon Asset Management S.A. increased its position in shares of 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 acquiring an additional 1,042,505 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after acquiring an additional 928,429 shares during the last quarter. 90.01% of the stock is owned by institutional investors.
About Diamondback Energy
(
Get Free Report)
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.
Read More
Before you consider Diamondback Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Diamondback Energy wasn't on the list.
While Diamondback Energy currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
