Diamondback Energy (NASDAQ:FANG) Price Target Cut to $179.00 by Analysts at Mizuho

Diamondback Energy (NASDAQ:FANG) had its target price cut by Mizuho from $186.00 to $179.00 in a research note published on Tuesday,Benzinga reports. They currently have an outperform rating on the oil and natural gas company’s stock.

FANG has been the subject of a number of other research reports. Citigroup raised shares of Diamondback Energy from a “reduce” rating to a “buy” rating and raised their price target for the stock from $157.00 to $180.00 in a report on Monday, April 7th. Wells Fargo & Company decreased their price target on shares of Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Bank of America raised shares of Diamondback Energy from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $202.00 to $170.00 in a report on Tuesday, April 29th. Evercore ISI began coverage on shares of Diamondback Energy in a research report on Tuesday, May 6th. They set an “outperform” rating and a $165.00 target price for the company. Finally, Williams Trading set a $190.00 price target on Diamondback Energy in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $194.09.

Diamondback Energy Trading Up 2.3%

NASDAQ FANG opened at $146.17 on Tuesday. The company has a fifty day simple moving average of $141.19 and a two-hundred day simple moving average of $158.71. The stock has a market cap of $42.71 billion, a P/E ratio of 8.37, a P/E/G ratio of 1.24 and a beta of 1.06. Diamondback Energy has a 12-month low of $114.00 and a 12-month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.87. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s quarterly revenue was up 81.8% on a year-over-year basis. During the same quarter last year, the company posted $4.50 earnings per share. On average, analysts forecast that Diamondback Energy will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.74%. Diamondback Energy’s dividend payout ratio (DPR) is currently 24.46%.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, with a total value 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 $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

A number of hedge funds have recently made changes to their positions in FANG. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Diamondback Energy by 4.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,608 shares of the oil and natural gas company’s stock valued at $2,863,000 after acquiring an additional 637 shares during the last quarter. Czech National Bank raised its holdings in shares of Diamondback Energy by 6.2% during the fourth quarter. Czech National Bank now owns 40,518 shares of the oil and natural gas company’s stock valued at $6,638,000 after acquiring an additional 2,352 shares during the last quarter. Fragasso Financial Advisors Inc raised its holdings in shares of Diamondback Energy by 3.8% during the fourth quarter. Fragasso Financial Advisors Inc now owns 1,928 shares of the oil and natural gas company’s stock valued at $316,000 after acquiring an additional 70 shares during the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of Diamondback Energy by 1.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 12,576 shares of the oil and natural gas company’s stock valued at $2,060,000 after acquiring an additional 208 shares during the last quarter. Finally, Signal Advisors Wealth LLC raised its holdings in shares of Diamondback Energy by 78.6% during the fourth quarter. Signal Advisors Wealth LLC now owns 16,839 shares of the oil and natural gas company’s stock valued at $2,759,000 after acquiring an additional 7,412 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.