Diamondback Energy (NASDAQ:FANG) Given New $236.00 Price Target at Truist Financial

Diamondback Energy (NASDAQ:FANG) had its price objective lifted by investment analysts at Truist Financial from $230.00 to $236.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Truist Financial’s price target would indicate a potential upside of 32.19% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. began coverage on shares of Diamondback Energy in a research report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price objective for the company. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $205.00 to $215.00 in a report on Friday, October 4th. UBS Group reduced their target price on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Scotiabank dropped their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Susquehanna reduced their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $210.08.

Diamondback Energy Trading Up 2.2 %

Shares of FANG traded up $3.76 during mid-day trading on Monday, reaching $178.53. The company had a trading volume of 254,420 shares, compared to its average volume of 1,805,260. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market cap of $52.13 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88. The firm has a fifty day simple moving average of $170.76 and a 200-day simple moving average of $183.77. Diamondback Energy has a fifty-two week low of $147.93 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.49 earnings per share. On average, sell-side analysts anticipate that Diamondback Energy will post 16.51 EPS for the current fiscal year.

Insider Buying and Selling at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Carolinas Wealth Consulting LLC lifted its holdings in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of Diamondback Energy in the 3rd quarter valued at about $42,000. CVA Family Office LLC grew its position in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after buying an additional 65 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its stake in Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 136 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at $52,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Company Profile

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.