Diamondback Energy (NASDAQ:FANG) Given New $229.00 Price Target at Stifel Nicolaus

Diamondback Energy (NASDAQ:FANG - Get Free Report) had its price target raised by analysts at Stifel Nicolaus from $224.00 to $229.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the oil and natural gas company's stock. Stifel Nicolaus' price target points to a potential upside of 12.05% from the stock's current price.

Several other equities research analysts also recently commented on FANG. Susquehanna upped their price target on shares of Diamondback Energy from $212.00 to $245.00 and gave the company a "positive" rating in a research report on Monday. Royal Bank of Canada restated an "outperform" rating and issued a $195.00 price target on shares of Diamondback Energy in a research report on Monday, March 4th. KeyCorp increased their target price on shares of Diamondback Energy from $210.00 to $225.00 and gave the stock an "overweight" rating in a research report on Monday. Truist Financial increased their target price on shares of Diamondback Energy from $248.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Raymond James cut their target price on shares of Diamondback Energy from $190.00 to $185.00 and set a "strong-buy" rating for the company in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $202.53.

Diamondback Energy Price Performance

FANG stock traded up $1.79 on Tuesday, hitting $204.37. 960,299 shares of the company's stock traded hands, compared to its average volume of 1,745,681. Diamondback Energy has a 1-year low of $123.41 and a 1-year high of $211.96. The stock has a market cap of $36.45 billion, a price-to-earnings ratio of 11.75 and a beta of 1.93. The stock has a fifty day moving average of $190.63 and a 200-day moving average of $168.24. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating the consensus estimate of $4.61 by $0.13. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $5.29 earnings per share. On average, analysts forecast that Diamondback Energy will post 18.53 EPS for the current fiscal year.

Insider Activity at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of the firm's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the firm's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the sale, the executive vice president now directly owns 44,445 shares in the company, valued at approximately $8,619,663.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is owned by insiders.

Institutional Trading of Diamondback Energy

Several hedge funds and other institutional investors have recently bought and sold shares of FANG. Massachusetts Financial Services Co. MA grew its position in Diamondback Energy by 39.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company's stock worth $465,817,000 after purchasing an additional 858,446 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Diamondback Energy during the 3rd quarter worth about $128,720,000. Wellington Management Group LLP lifted its holdings in shares of Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company's stock worth $2,209,617,000 after acquiring an additional 648,317 shares during the period. Raymond James & Associates lifted its holdings in shares of Diamondback Energy by 143.0% during the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company's stock worth $152,177,000 after acquiring an additional 577,514 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Diamondback Energy by 286.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company's stock worth $92,380,000 after acquiring an additional 441,411 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.