Diamondback Energy (NASDAQ:FANG) Price Target Raised to $225.00 at KeyCorp

Diamondback Energy (NASDAQ:FANG) had its price objective increased by KeyCorp from $210.00 to $225.00 in a report released on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the oil and natural gas company’s stock.

Several other research firms also recently issued reports on FANG. Truist Financial dropped their price objective on shares of Diamondback Energy from $250.00 to $248.00 and set a buy rating on the stock in a report on Friday, April 5th. Piper Sandler upped their price target on Diamondback Energy from $227.00 to $247.00 and gave the company an overweight rating in a report on Friday. Raymond James decreased their price objective on Diamondback Energy from $190.00 to $185.00 and set a strong-buy rating on the stock in a report on Wednesday, January 24th. Mizuho raised their target price on Diamondback Energy from $200.00 to $217.00 and gave the stock a buy rating in a research report on Thursday, April 11th. Finally, BMO Capital Markets boosted their price target on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a market perform rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has an average rating of Moderate Buy and an average price target of $202.26.

Diamondback Energy Trading Up 0.9 %

Shares of NASDAQ:FANG opened at $202.58 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. The stock’s 50-day moving average is $190.63 and its 200-day moving average is $168.24. The company has a market cap of $36.13 billion, a P/E ratio of 11.68 and a beta of 1.93. Diamondback Energy has a 52-week low of $123.41 and a 52-week high of $211.96.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business posted $5.29 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts predict that Diamondback Energy will post 18.53 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a yield of 6.08%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares in the company, valued at $18,532,416. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its position in Diamondback Energy by 8.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 646,430 shares of the oil and natural gas company’s stock valued at $128,103,000 after purchasing an additional 50,736 shares in the last quarter. Stonegate Investment Group LLC acquired a new position in shares of Diamondback Energy during the 1st quarter worth about $235,000. Sapient Capital LLC grew its stake in Diamondback Energy by 4,829.0% in the first quarter. Sapient Capital LLC now owns 190,457 shares of the oil and natural gas company’s stock valued at $37,743,000 after purchasing an additional 186,593 shares in the last quarter. Confluence Wealth Services Inc. bought a new stake in shares of Diamondback Energy during the 1st quarter worth approximately $535,000. Finally, Invera Wealth Advisors LLC boosted its holdings in shares of Diamondback Energy by 9.5% in the 1st quarter. Invera Wealth Advisors LLC now owns 8,141 shares of the oil and natural gas company’s stock valued at $1,625,000 after buying an additional 704 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.