Diamondback Energy, Inc. (NASDAQ:FANG) Stock Has Consensus Target Price of $228.43

Key Points

• Analysts have a “Moderate Buy” consensus on Diamondback Energy, with 24 buy, 2 strong-buy, and 5 hold ratings. The average 12-month price target is $228.43, above the reported opening price of $212.08.
• Diamondback’s latest quarterly results exceeded expectations, with EPS of $6.48 versus the $6.08 consensus and revenue of $5.56 billion versus $4.89 billion expected. Revenue increased 51.2% year over year.
• Insiders sold 141,666 shares worth approximately $28.1 million over the past three months, while institutional investors own about 90.01% of the company.

Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) has received an average rating of "Moderate Buy" from the thirty-one analysts that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, twenty-four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $228.43.

Several brokerages have recently commented on FANG. Citigroup reduced their price target on shares of Diamondback Energy from $221.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. Royal Bank Of Canada reissued an "outperform" rating and issued a $240.00 price objective on shares of Diamondback Energy in a report on Wednesday, October 14th. Susquehanna upped their price objective on Diamondback Energy from $255.00 to $265.00 in a research note on Wednesday, August 5th. Seaport Research Partners began coverage on Diamondback Energy in a research note on Thursday, September 3rd. They set a "neutral" rating on the stock. Finally, The Goldman Sachs Group reduced their target price on Diamondback Energy from $220.00 to $215.00 and set a "buy" rating on the stock in a report on Thursday, October 1st.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $212.08 on Friday. The stock's 50-day moving average is $197.38 and its 200-day moving average is $189.06. The company has a market cap of $59.39 billion, a price-to-earnings ratio of 41.34 and a beta of 0.55. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. Diamondback Energy has a 12 month low of $137.03 and a 12 month high of $216.90.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%. The business had revenue of $5.56 billion during the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter in the previous year, the business earned $2.38 EPS. The company's revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts anticipate that Diamondback Energy will post 21.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Charles Meloy sold 33,333 shares of the business's stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $183.74, for a total transaction of $6,124,605.42. Following the completion of the sale, the director owned 759,864 shares of the company's stock, valued at $139,617,411.36. This represents a 4.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis Stice sold 75,000 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $204.31, for a total transaction of $15,323,250.00. Following the sale, the director owned 49,727 shares in the company, valued at approximately $10,159,723.37. This trade represents a 60.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 141,666 shares of company stock worth $28,061,456 over the last three months. 0.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its position in shares of Diamondback Energy by 3.3% during the second quarter. Envestnet Asset Management Inc. now owns 512,271 shares of the oil and natural gas company's stock worth $90,047,000 after acquiring an additional 16,424 shares in the last quarter. Waverly Advisors LLC increased its holdings in Diamondback Energy by 347.1% during the 2nd quarter. Waverly Advisors LLC now owns 164,536 shares of the oil and natural gas company's stock worth $28,922,000 after purchasing an additional 127,732 shares in the last quarter. Robinhood Asset Management LLC acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at about $11,307,000. USA Financial Formulas bought a new stake in shares of Diamondback Energy in the third quarter valued at about $1,141,000. Finally, Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Diamondback Energy by 33.1% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 113,489 shares of the oil and natural gas company's stock valued at $22,447,000 after purchasing an additional 28,246 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

About Diamondback Energy

Diamondback Energy, Inc is an independent oil and natural gas company engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. The company's operations are concentrated in the Permian Basin of West Texas and southeastern New Mexico, particularly the Midland and Delaware Basins.

Diamondback produces crude oil, natural gas and natural gas liquids from horizontal wells and related infrastructure. Its activities include drilling and completing wells, operating gathering and processing assets, and managing midstream services that support production.

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