Diamondback Energy (NASDAQ:FANG) Price Target Raised to $204.00 at Mizuho

Diamondback Energy (NASDAQ:FANG) had its target price boosted by Mizuho from $201.00 to $204.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the oil and natural gas company’s stock.

FANG has been the topic of a number of other research reports. Truist Financial increased their price target on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. The Goldman Sachs Group began coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Raymond James lifted their target price on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $216.09.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $155.59 on Tuesday. The stock’s 50 day moving average is $165.34 and its 200 day moving average is $175.63. Diamondback Energy has a one year low of $151.00 and a one year high of $214.50. The firm has a market cap of $45.43 billion, a P/E ratio of 8.91, a P/E/G ratio of 1.24 and a beta of 1.86. 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 issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. As a group, research analysts expect that Diamondback Energy will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be paid a $1.00 dividend. The ex-dividend date is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.57%. Diamondback Energy’s dividend payout ratio is 25.32%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Wintrust Investments LLC bought a new position in Diamondback Energy during the 4th quarter valued at $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy in the 4th quarter worth $29,000. UMB Bank n.a. raised its holdings in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Diamondback Energy during the fourth quarter valued at about $33,000. Finally, Key Financial Inc boosted its holdings in 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 worth $34,000 after purchasing an additional 188 shares during the last quarter. Hedge funds and other 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.