Diamondback Energy (NASDAQ:FANG) Price Target Raised to $220.00

Diamondback Energy (NASDAQ:FANG - Get Free Report) had its price target boosted by stock analysts at Royal Bank of Canada from $195.00 to $220.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an "outperform" rating on the oil and natural gas company's stock. Royal Bank of Canada's target price points to a potential upside of 7.74% from the stock's previous close.

Several other equities research analysts also recently weighed in on FANG. KeyCorp increased their price objective on Diamondback Energy from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Monday, April 22nd. BMO Capital Markets upped their target price on Diamondback Energy from $167.00 to $175.00 and gave the company a "market perform" rating in a research note on Tuesday, February 13th. Piper Sandler raised their price target on Diamondback Energy from $227.00 to $247.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. Stifel Nicolaus upped their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a "buy" rating in a report on Tuesday, April 23rd. Finally, StockNews.com raised shares of Diamondback Energy from a "hold" rating to a "buy" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy has an average rating of "Moderate Buy" and a consensus target price of $205.68.

Diamondback Energy Price Performance

FANG traded up $2.69 on Monday, hitting $204.19. 1,791,237 shares of the company's stock were exchanged, compared to its average volume of 1,745,825. Diamondback Energy has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $195.49 and a 200-day moving average price of $170.84. The stock has a market cap of $36.42 billion, a price-to-earnings ratio of 11.54 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $0.21. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.10 EPS. As a group, equities analysts anticipate that Diamondback Energy will post 18.91 earnings per share for the current year.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the completion of the sale, the chief operating officer now owns 78,218 shares of the company's stock, valued at $15,031,153.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Teresa L. Dick sold 2,000 shares of the 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 transaction, the chief accounting officer now owns 96,523 shares of the company's stock, valued at $18,532,416. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the transaction, the chief operating officer now directly owns 78,218 shares of the company's stock, valued at $15,031,153.06. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock worth $11,311,096 in the last 90 days. 0.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds have recently made changes to their positions in the company. Founders Capital Management raised its position in shares of Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company's stock valued at $25,000 after acquiring an additional 101 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Diamondback Energy in the 4th quarter valued at about $27,000. BluePath Capital Management LLC acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at approximately $28,000. Logan Capital Management Inc. acquired a new position in Diamondback Energy during the fourth quarter valued at approximately $31,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Diamondback Energy in the fourth quarter valued at approximately $34,000. 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.