Diamondback Energy (NASDAQ:FANG – Get Free Report) has raised its price target by research analysts at Piper Sandler from $247.00 to $249.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. Piper Sandler’s price target suggests a potential upside of 21.19% from the company’s previous close.

Several other research analysts have also weighed in on the company recently. Morgan Stanley lowered their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Barclays initiated coverage on Diamondback Energy in a research report on Wednesday, April 10th. They gave an “equal weight” rating and a $214.00 price target on the stock. StockNews.com lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Sanford C. Bernstein lowered their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company lowered their price objective on Diamondback Energy from $227.00 to $224.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has given the company a strong buy rating. Based on data from MarketBeat, the firm has a consensus rating of “Moderate Buy” and a consensus price target of $208.95.

Read our latest research report on FANG

Diamondback Energy shares drop 2.2%

Shares of NASDAQ:FANG opened at $205.47 on Thursday. The stock has a market cap of $36.64 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.16 and a beta of 1.90. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. Diamondback Energy has a 12-month low of $139.45 and a 12-month high of $214.50. The company’s 50-day moving average is $197.68 and its 200-day moving average is $186.60.

Diamondback Energy (NASDAQ:FANG – Get Free Report) last announced its earnings results on Tuesday, April 30. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $0.21. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. Diamondback Energy’s quarterly revenue increased by 15.7% year over year. In the year-ago quarter, the company earned $4.10 in EPS. On average, sell-side analysts predict that Diamondback Energy will post 18.74 EPS for the current fiscal year.

Insider Activity at Diamondback Energy

In related news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 28. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the sale, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The transaction was disclosed in a filing with the SEC, which is available on the SEC website. In related news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 28. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the transaction, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The transaction was disclosed in a document filed with the SEC, available at this link. Also, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the transaction, the vice president now owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The disclosure for this sale can be found here. 0.48% of the shares are currently held by company insiders.

Hedge Funds Weighing Diamondback Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quent Capital LLC increased its holdings in shares of Diamondback Energy by 7.2% in the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after purchasing an additional 54 shares in the last quarter. Sugarloaf Wealth Management LLC increased its holdings in shares of Diamondback Energy by 0.3% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after purchasing an additional 56 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Diamondback Energy by 16.1% in the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock worth $82,000 after purchasing an additional 57 shares in the last quarter. Confluence Investment Management LLC increased its holdings in shares of Diamondback Energy by 1.6% in the 2nd quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock worth $734,000 after purchasing an additional 58 shares in the last quarter. Finally, Sage Mountain Advisors LLC increased its holdings in shares of Diamondback Energy by 4.5% in the 1st quarter. Sage Mountain Advisors LLC now owns 1,420 shares of the oil and natural gas company’s stock worth $281,000 after purchasing an additional 61 shares in the last quarter. 90.01% of the shares are currently held by hedge funds and other institutional investors.

Company Profile Diamondback Energy

(Get free report)

Diamondback Energy, Inc., an independent oil and natural gas company, acquires, develops, explores and operates unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas. Its focus is 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 of West Texas and New Mexico.

read more

Get daily news and reviews for Diamondback Energy – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings on Diamondback Energy and related companies with MarketBeat.com’s FREE daily email newsletter.