Diamondback Energy (NASDAQ:FANG) Price Target Lowered to $212.00 at UBS Group

Diamondback Energy (NASDAQ:FANG - Get Free Report) had its target price lowered by research analysts at UBS Group from $235.00 to $212.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the oil and natural gas company's stock. UBS Group's price target indicates a potential upside of 29.94% from the stock's previous close.

Several other research analysts also recently commented on the company. BMO Capital Markets raised Diamondback Energy from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Truist Financial boosted their target price on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Evercore ISI decreased their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an "outperform" rating on the stock in a research report on Monday, September 30th. Susquehanna cut their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a "positive" rating for the company in a research report on Friday, October 18th. Finally, Scotiabank decreased their target price on Diamondback Energy from $245.00 to $225.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $212.17.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded down $3.97 during trading on Monday, reaching $163.15. The stock had a trading volume of 2,298,960 shares, compared to its average volume of 1,772,208. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $181.27 and a two-hundred day simple moving average of $188.82. The firm has a market capitalization of $47.64 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 1.23 and a beta of 1.88. Diamondback Energy has a 52 week low of $146.82 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the firm earned $5.49 EPS. The firm's revenue was up 13.0% on a year-over-year basis. As a group, analysts anticipate that Diamondback Energy will post 16.26 earnings per share for the current fiscal year.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now directly owns 4,712 shares of the company's stock, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company's stock, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

Several hedge funds and other institutional investors have recently made changes to their positions in FANG. Wealth Enhancement Advisory Services LLC lifted its holdings in Diamondback Energy by 178.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company's stock valued at $6,112,000 after buying an additional 19,552 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company's stock valued at $1,687,000 after purchasing an additional 7,694 shares during the period. Atria Investments Inc boosted its position in shares of Diamondback Energy by 18.5% in the 3rd quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company's stock worth $7,358,000 after purchasing an additional 6,672 shares during the last quarter. Cullen Investment Group LTD. boosted its position in shares of Diamondback Energy by 33.5% in the 3rd quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company's stock worth $2,065,000 after purchasing an additional 3,008 shares during the last quarter. Finally, ORG Partners LLC grew its stake in shares of Diamondback Energy by 2,768.9% during the second quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company's stock worth $883,000 after purchasing an additional 4,181 shares during the period. 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.