Diamondback Energy (NASDAQ:FANG) Coverage Initiated by Analysts at Barclays

Investment analysts at Barclays assumed coverage on shares of Diamondback Energy (NASDAQ:FANG - Get Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage set an "equal weight" rating and a $214.00 price target on the oil and natural gas company's stock. Barclays's price target would suggest a potential upside of 3.77% from the company's previous close.

FANG has been the subject of a number of other reports. Bank Of America (Bofa) lowered their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an "underperform" rating for the company in a report on Thursday, January 18th. Piper Sandler boosted their price objective on shares of Diamondback Energy from $222.00 to $227.00 and gave the stock an "overweight" rating in a report on Thursday, March 7th. Royal Bank of Canada restated an "outperform" rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Monday, March 4th. KeyCorp lifted their target price on shares of Diamondback Energy from $186.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, March 21st. Finally, Scotiabank lifted their target price on shares of Diamondback Energy from $180.00 to $200.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $192.45.

Diamondback Energy Price Performance

Diamondback Energy stock traded up $0.70 during mid-day trading on Wednesday, hitting $206.23. 1,182,339 shares of the company traded hands, compared to its average volume of 1,797,192. Diamondback Energy has a one year low of $123.41 and a one year high of $208.49. The stock has a market cap of $36.78 billion, a price-to-earnings ratio of 11.85 and a beta of 1.93. 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 has a fifty day moving average price of $181.57 and a 200-day moving average price of $164.95.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, topping analysts' consensus estimates of $4.61 by $0.13. The firm 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 previous year, the business posted $5.29 EPS. On average, equities analysts predict that Diamondback Energy will post 18.35 earnings per share for the current fiscal year.

Insider Transactions at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 446,610 shares of the company's stock, valued at approximately $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Travis D. Stice sold 30,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 446,610 shares of the company's stock, valued at approximately $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Hof Matthew Kaes Van't sold 12,000 shares of the company's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the completion of the transaction, the chief financial officer now owns 185,882 shares in the company, valued at approximately $35,470,003.24. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock valued at $11,311,096 in the last three months. 0.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds have recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC lifted its stake in Diamondback Energy by 3.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company's stock valued at $278,000 after acquiring an additional 64 shares during the period. Coldstream Capital Management Inc. increased its position in shares of Diamondback Energy by 1.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company's stock valued at $566,000 after purchasing an additional 64 shares during the last quarter. MCF Advisors LLC increased its position in shares of Diamondback Energy by 8.6% during the 4th quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company's stock valued at $131,000 after purchasing an additional 67 shares during the last quarter. Veracity Capital LLC increased its position in shares of Diamondback Energy by 3.5% during the 3rd quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company's stock valued at $319,000 after purchasing an additional 70 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its position in shares of Diamondback Energy by 2.5% during the 4th quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company's stock valued at $483,000 after purchasing an additional 75 shares during the last quarter. 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.