Diamondback Energy (NASDAQ:FANG) Price Target Raised to $216.00 at UBS Group

Diamondback Energy (NASDAQ:FANG) had its price objective boosted by research analysts at UBS Group from $194.00 to $216.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. UBS Group’s price objective points to a potential upside of 21.33% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. TD Cowen raised Diamondback Energy to a “strong-buy” rating in a report on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a report on Monday, December 29th. Wells Fargo & Company lifted their price target on shares of Diamondback Energy from $169.00 to $171.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Piper Sandler upped their price objective on shares of Diamondback Energy from $215.00 to $218.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Finally, Mizuho upped their price target on shares of Diamondback Energy from $194.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $189.00.

Diamondback Energy Stock Up 0.7%

Shares of Diamondback Energy stock traded up $1.31 during trading on Thursday, hitting $178.02. 1,261,812 shares of the stock were exchanged, compared to its average volume of 2,328,624. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.42 and a quick ratio of 0.40. The firm’s 50-day moving average price is $159.93 and its 200 day moving average price is $150.59. The stock has a market cap of $50.22 billion, a price-to-earnings ratio of 31.73 and a beta of 0.59. Diamondback Energy has a 12-month low of $114.00 and a 12-month high of $183.36.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.26). The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.41 billion. Diamondback Energy had a net margin of 11.07% and a return on equity of 8.08%. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.67 earnings per share. As a group, analysts forecast that Diamondback Energy will post 15.49 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Charles Alvin Meloy sold 60,605 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $161.12, for a total transaction of $9,764,677.60. Following the transaction, the director directly owned 982,006 shares of the company’s stock, valued at approximately $158,220,806.72. The trade was a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total transaction of $162,880,000.00. Following the transaction, the insider owned 98,686,727 shares in the company, valued at $16,074,094,093.76. This trade represents a 1.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds have recently added to or reduced their stakes in FANG. Flagship Harbor Advisors LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth $25,000. JPL Wealth Management LLC acquired a new stake in Diamondback Energy during the third quarter worth about $26,000. Richardson Financial Services Inc. boosted its stake in shares of Diamondback Energy by 245.1% during the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 125 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the 4th quarter valued at about $26,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in Diamondback Energy by 106.3% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock worth $28,000 after purchasing an additional 102 shares during the period. 90.01% of the stock is currently owned by institutional investors.

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.