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

Diamondback Energy (NASDAQ:FANG) had its price objective decreased by Raymond James from $245.00 to $214.00 in a research note released on Wednesday morning,Benzinga reports. Raymond James currently has a strong-buy rating on the oil and natural gas company’s stock.

FANG has been the topic of a number of other research reports. Piper Sandler reduced their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Morgan Stanley upped their target price on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Mizuho boosted their price objective on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Finally, Truist Financial upped their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.08.

Diamondback Energy Stock Up 1.3 %

FANG opened at $146.55 on Wednesday. Diamondback Energy has a 12 month low of $137.09 and a 12 month high of $214.50. The stock has a market capitalization of $42.42 billion, a P/E ratio of 8.39, a P/E/G ratio of 1.24 and a beta of 1.84. The business has a 50 day simple moving average of $162.83 and a 200-day simple moving average of $172.36. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, equities analysts anticipate that Diamondback Energy will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.73%. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Insider Buying and Selling

In other news, Director Frank D. Tsuru purchased 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wintrust Investments LLC acquired a new position in shares of Diamondback Energy during the fourth quarter valued at about $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy during the fourth quarter worth approximately $29,000. UMB Bank n.a. increased its holdings in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth approximately $33,000. Finally, Key Financial Inc grew its stake in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds 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.