Diamondback Energy (NASDAQ:FANG) Price Target Raised to $170.00

Diamondback Energy (NASDAQ:FANGGet Rating) had its target price increased by Citigroup from $155.00 to $170.00 in a report issued on Tuesday, The Fly reports.

Other equities research analysts have also issued reports about the company. KeyCorp raised their price objective on Diamondback Energy from $163.00 to $182.00 and gave the stock an overweight rating in a research note on Wednesday, November 9th. Susquehanna Bancshares upped their price objective on shares of Diamondback Energy from $180.00 to $190.00 in a research note on Wednesday, November 9th. Truist Financial lifted their target price on shares of Diamondback Energy from $203.00 to $209.00 and gave the stock a buy rating in a research report on Friday, November 18th. Credit Suisse Group raised their price objective on shares of Diamondback Energy from $190.00 to $195.00 and gave the stock an outperform rating in a research note on Thursday, November 17th. Finally, TD Securities increased their target price on Diamondback Energy from $170.00 to $185.00 and gave the company a buy rating in a report on Tuesday, November 8th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $181.85.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $149.99 on Tuesday. Diamondback Energy has a twelve month low of $95.02 and a twelve month high of $168.95. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $144.69 and a two-hundred day moving average of $135.48. The company has a market capitalization of $26.40 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 0.28 and a beta of 2.06.

Diamondback Energy declared that its Board of Directors has authorized a share buyback plan on Monday, August 1st that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the oil and natural gas company to purchase up to 17.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Diamondback Energy Dividend Announcement

The business also recently declared a None dividend, which will be paid on Friday, November 25th. Shareholders of record on Thursday, November 17th will be given a $2.26 dividend. The ex-dividend date is Wednesday, November 16th. This represents a dividend yield of 4.7%. Diamondback Energy’s dividend payout ratio is currently 12.22%.

Institutional Investors Weigh In On Diamondback Energy

Large investors have recently added to or reduced their stakes in the stock. Adirondack Trust Co. lifted its position in Diamondback Energy by 275.0% during the 3rd quarter. Adirondack Trust Co. now owns 225 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 165 shares during the last quarter. Private Trust Co. NA acquired a new position in shares of Diamondback Energy during the 2nd quarter worth about $28,000. SOA Wealth Advisors LLC. boosted its stake in Diamondback Energy by 72.1% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 241 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 101 shares during the period. Carolinas Wealth Consulting LLC grew its holdings in Diamondback Energy by 366.7% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 176 shares during the last quarter. Finally, First Personal Financial Services bought a new position in Diamondback Energy in the 3rd quarter worth approximately $32,000. Institutional investors own 92.45% of the company’s stock.

Diamondback Energy Company Profile

(Get Rating)

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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