Diamondback Energy (NASDAQ:FANG) Given New $208.00 Price Target at Wells Fargo & Company

Diamondback Energy (NASDAQ:FANG - Get Free Report) had its price target hoisted by investment analysts at Wells Fargo & Company from $207.00 to $208.00 in a report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the oil and natural gas company's stock. Wells Fargo & Company's price target would indicate a potential upside of 39.45% from the company's current price.

A number of other research firms also recently weighed in on FANG. Susquehanna dropped their price target on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Mizuho decreased their price objective on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Piper Sandler decreased their price objective on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Raymond James reaffirmed a "strong-buy" rating on shares of Diamondback Energy in a report on Thursday, May 22nd. Finally, Evercore ISI initiated coverage on Diamondback Energy in a report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $193.13.

Diamondback Energy Price Performance

Shares of FANG stock traded down $5.75 during trading hours on Monday, reaching $149.16. The company's stock had a trading volume of 1,579,640 shares, compared to its average volume of 2,215,258. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The company has a market capitalization of $43.58 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 1.24 and a beta of 1.06. The firm's 50 day simple moving average is $136.99 and its 200-day simple moving average is $152.33.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm's revenue was up 81.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.50 EPS. Sell-side analysts forecast that Diamondback Energy will post 15.49 earnings per share for the current year.

Insider Buying and Selling

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of large investors have recently added to or reduced their stakes in FANG. Barden Capital Management Inc. increased its position in shares of Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock worth $718,000 after purchasing an additional 64 shares in the last quarter. Private Trust Co. NA increased its position in shares of Diamondback Energy by 4.8% during the fourth quarter. Private Trust Co. NA now owns 1,516 shares of the oil and natural gas company's stock worth $248,000 after purchasing an additional 69 shares in the last quarter. Investor s Fiduciary Advisor Network LLC increased its position in shares of Diamondback Energy by 2.1% during the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock worth $569,000 after purchasing an additional 74 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its position in shares of Diamondback Energy by 5.6% during the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company's stock worth $226,000 after purchasing an additional 75 shares in the last quarter. Finally, FourThought Financial Partners LLC increased its position in shares of Diamondback Energy by 2.9% during the first quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company's stock worth $444,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors 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.

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