Susquehanna Has Lowered Expectations for Diamondback Energy (NASDAQ:FANG) Stock Price

Diamondback Energy (NASDAQ:FANG - Free Report) had its price target lowered by Susquehanna from $192.00 to $188.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a positive rating on the oil and natural gas company's stock.

A number of other equities analysts have also weighed in on the stock. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $207.00 to $208.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Barclays dropped their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Citigroup upgraded shares of Diamondback Energy from a "reduce" rating to a "buy" rating and upped their price target for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Mizuho dropped their target price on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Piper Sandler upped their target price on shares of Diamondback Energy from $225.00 to $228.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy has a consensus rating of "Buy" and an average target price of $191.59.

Diamondback Energy Stock Performance

Diamondback Energy stock traded down $0.69 during midday trading on Wednesday, reaching $144.61. 1,035,613 shares of the company traded hands, compared to its average volume of 1,775,078. The firm has a market capitalization of $42.25 billion, a price-to-earnings ratio of 8.84 and a beta of 1.05. The business has a 50 day moving average of $141.65 and a two-hundred day moving average of $148.00. Diamondback Energy has a 12 month low of $114.00 and a 12 month high of $203.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share 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 net margin of 30.84% and a return on equity of 11.22%. The firm's revenue for the quarter was up 81.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.50 earnings per share. As a group, research analysts predict that Diamondback Energy will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio is presently 24.46%.

Insider Buying and Selling

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, the president owned 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. NorthRock Partners LLC grew its position in shares of Diamondback Energy by 181.6% in the 2nd quarter. NorthRock Partners LLC now owns 3,551 shares of the oil and natural gas company's stock worth $488,000 after buying an additional 2,290 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in Diamondback Energy by 13.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 49,459 shares of the oil and natural gas company's stock valued at $6,796,000 after acquiring an additional 6,036 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Diamondback Energy by 9.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,520 shares of the oil and natural gas company's stock valued at $896,000 after acquiring an additional 587 shares during the period. Vest Financial LLC lifted its stake in Diamondback Energy by 6.0% during the 2nd quarter. Vest Financial LLC now owns 49,970 shares of the oil and natural gas company's stock valued at $6,866,000 after acquiring an additional 2,832 shares during the period. Finally, MGO One Seven LLC lifted its stake in Diamondback Energy by 111.4% during the 2nd quarter. MGO One Seven LLC now owns 3,325 shares of the oil and natural gas company's stock valued at $457,000 after acquiring an additional 1,752 shares during the period. 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.