Diamondback Energy (NASDAQ:FANG) Price Target Raised to $195.00

Diamondback Energy (NASDAQ:FANG) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $191.00 to $195.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.31% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Scotiabank lowered their price objective 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. Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. The Goldman Sachs Group initiated coverage on Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective on the stock. Benchmark restated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. Finally, Raymond James raised their price target on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded up $0.92 during trading hours on Friday, reaching $180.04. The company had a trading volume of 928,691 shares, compared to its average volume of 1,921,168. Diamondback Energy has a one year low of $147.93 and a one year high of $214.50. The business has a fifty day simple moving average of $170.68 and a 200 day simple moving average of $183.43. 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 $52.57 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) 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 business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the business posted $5.49 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. On average, analysts anticipate that Diamondback Energy will post 16.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The stock was 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 approximately $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Institutional Trading of Diamondback Energy

Large investors have recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after acquiring an additional 47,951 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Diamondback Energy by 368.1% during the third 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 last quarter. Everence Capital Management Inc. purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $1,053,000. Geode Capital Management LLC lifted its holdings in shares of Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after purchasing an additional 266,299 shares during the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after purchasing an additional 6,672 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

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.