Mizuho Lowers Diamondback Energy (NASDAQ:FANG) Price Target to $194.00

Diamondback Energy (NASDAQ:FANG) had its price target dropped by equities research analysts at Mizuho from $195.00 to $194.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the oil and natural gas company’s stock. Mizuho’s target price indicates a potential upside of 26.80% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Roth Mkm set a $162.00 price target on Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 29th. Barclays decreased their price target on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $173.00 target price on shares of Diamondback Energy in a report on Monday. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.24.

Diamondback Energy Trading Up 2.9%

NASDAQ:FANG opened at $153.00 on Thursday. The business has a fifty day moving average price of $150.65 and a 200-day moving average price of $145.53. The firm has a market capitalization of $43.82 billion, a price-to-earnings ratio of 10.63 and a beta of 0.59. Diamondback Energy has a one year low of $114.00 and a one year high of $180.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.14. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. Diamondback Energy’s quarterly revenue was up 48.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.19 earnings per share. Sell-side analysts forecast that Diamondback Energy will post 15.49 EPS for the current year.

Insiders Place Their Bets

In related news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the sale, the director owned 1,044,864 shares in the company, valued at $144,828,599.04. This trade represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Prime Capital Investment Advisors LLC raised its holdings in Diamondback Energy by 24.9% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 4,135 shares of the oil and natural gas company’s stock valued at $622,000 after buying an additional 824 shares during the period. Woodmont Investment Counsel LLC lifted its holdings in shares of Diamondback Energy by 9.0% during the 4th quarter. Woodmont Investment Counsel LLC now owns 51,595 shares of the oil and natural gas company’s stock valued at $7,756,000 after acquiring an additional 4,278 shares in the last quarter. Greenleaf Trust boosted its position in Diamondback Energy by 19.1% during the 4th quarter. Greenleaf Trust now owns 8,046 shares of the oil and natural gas company’s stock worth $1,210,000 after purchasing an additional 1,293 shares during the period. Rydar Equities Inc. increased its holdings in Diamondback Energy by 4.3% in the 4th quarter. Rydar Equities Inc. now owns 2,836 shares of the oil and natural gas company’s stock valued at $426,000 after purchasing an additional 117 shares in the last quarter. Finally, KFG Wealth Management LLC raised its position in Diamondback Energy by 11.0% in the fourth quarter. KFG Wealth Management LLC now owns 2,411 shares of the oil and natural gas company’s stock valued at $362,000 after purchasing an additional 238 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.