Susquehanna Lowers Diamondback Energy (NASDAQ:FANG) Price Target to $194.00

Diamondback Energy (NASDAQ:FANG - Free Report) had its price target trimmed by Susquehanna from $219.00 to $194.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a positive rating on the oil and natural gas company's stock.

A number of other equities research analysts also recently commented on FANG. Barclays reduced their target price on Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Raymond James decreased their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, March 12th. Morgan Stanley reaffirmed an "overweight" rating on shares of Diamondback Energy in a research note on Tuesday, April 15th. Truist Financial upped their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Three investment 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 company. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of "Moderate Buy" and an average target price of $200.96.

Diamondback Energy Trading Up 0.4 %

Shares of FANG stock traded up $0.59 on Tuesday, hitting $136.75. 277,055 shares of the stock traded hands, compared to its average volume of 2,088,243. Diamondback Energy has a twelve month low of $114.00 and a twelve month high of $214.50. The stock has a market capitalization of $40.21 billion, a PE ratio of 7.83, a PEG ratio of 1.24 and a beta of 1.44. The firm's 50-day moving average price is $145.44 and its two-hundred day moving average price is $163.39. 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 (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, analysts anticipate that Diamondback Energy will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.93%. The ex-dividend date was Thursday, March 6th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio is 25.32%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now owns 5,730 shares of the company's stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Diamondback Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FANG. Wintrust Investments LLC acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at about $29,000. Pinnacle Bancorp Inc. boosted its position in shares of Diamondback Energy by 95.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock valued at $29,000 after purchasing an additional 88 shares during the period. UMB Bank n.a. grew its stake in Diamondback Energy by 247.3% during the 4th 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 last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Diamondback Energy during the fourth quarter worth approximately $33,000. 90.01% of the stock is 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.