Piper Sandler Increases Diamondback Energy (NASDAQ:FANG) Price Target to $247.00

Diamondback Energy (NASDAQ:FANG) had its target price increased by Piper Sandler from $227.00 to $247.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the oil and natural gas company’s stock.

FANG has been the topic of a number of other research reports. BMO Capital Markets boosted their target price on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a market perform rating in a report on Tuesday, February 13th. UBS Group upped their price target on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a buy rating in a report on Wednesday, February 14th. Mizuho upped their price target on shares of Diamondback Energy from $200.00 to $217.00 and gave the stock a buy rating in a report on Thursday, April 11th. Royal Bank of Canada reaffirmed an outperform rating and issued a $195.00 price target on shares of Diamondback Energy in a report on Monday, March 4th. Finally, KeyCorp upped their price target on shares of Diamondback Energy from $186.00 to $210.00 and gave the stock an overweight rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $202.26.

Diamondback Energy Trading Up 0.9 %

NASDAQ:FANG opened at $202.58 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $36.13 billion, a PE ratio of 11.68 and a beta of 1.93. The firm’s 50 day moving average is $190.63 and its 200 day moving average is $168.24. Diamondback Energy has a 12 month low of $123.41 and a 12 month high of $211.96.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. Diamondback Energy’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.29 EPS. Sell-side analysts expect that Diamondback Energy will post 18.53 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a $3.08 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s dividend payout ratio is presently 20.76%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 of the company’s stock, valued at $35,470,003.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the sale, 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. Over the last quarter, insiders sold 57,675 shares of company stock valued at $11,311,096. Corporate insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors have recently made changes to their positions in the company. Founders Capital Management boosted its holdings in Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 101 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in Diamondback Energy in the fourth quarter worth approximately $27,000. BluePath Capital Management LLC purchased a new stake in Diamondback Energy in the third quarter worth approximately $28,000. Logan Capital Management Inc. purchased a new position in shares of Diamondback Energy during the 4th quarter worth $31,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the 4th quarter worth $34,000. 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.