Barclays Cuts Diamondback Energy (NASDAQ:FANG) Price Target to $200.00

Diamondback Energy (NASDAQ:FANG) had its target price cut by analysts at Barclays from $210.00 to $200.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. Barclays‘s price target would indicate a potential upside of 30.69% from the company’s previous close.

Several other analysts have also recently issued reports on FANG. Raymond James reduced their price target 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. Citigroup reduced their price target on shares of Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research report on Friday, January 3rd. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research report on Wednesday, March 5th. Finally, Truist Financial raised their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $209.92.

Diamondback Energy Trading Up 1.9 %

Shares of FANG stock opened at $153.03 on Tuesday. 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 firm has a market cap of $44.29 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The company has a 50-day moving average of $161.67 and a two-hundred day moving average of $171.22. Diamondback Energy has a 1-year low of $137.09 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion for 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%. On average, analysts predict that Diamondback Energy will post 15.49 EPS for the current year.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Diamondback Energy by 145.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,162 shares of the oil and natural gas company’s stock valued at $6,416,000 after buying an additional 23,191 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in Diamondback Energy by 6.5% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,758 shares of the oil and natural gas company’s stock valued at $288,000 after buying an additional 108 shares during the period. PKO Investment Management Joint Stock Co purchased a new stake in Diamondback Energy in the 4th quarter valued at about $901,000. Centaurus Financial Inc. grew its holdings in Diamondback Energy by 31.2% in the 4th quarter. Centaurus Financial Inc. now owns 8,964 shares of the oil and natural gas company’s stock valued at $1,469,000 after buying an additional 2,134 shares during the period. Finally, Wood Tarver Financial Group LLC purchased a new stake in Diamondback Energy in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Company Profile

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.