BidaskClub cut shares of Diamondback Energy (NASDAQ:FANG) from a buy rating to a hold rating in a research note released on Saturday, BidAskClub reports.

FANG has been the topic of a number of other reports. Northland Securities lifted their price target on Diamondback Energy from $36.00 to $45.00 and gave the company an outperform rating in a report on Tuesday, May 5th. Credit Suisse Group reiterated an outperform rating and issued a $52.00 price target on shares of Diamondback Energy in a report on Thursday, March 19th. Piper Sandler downgraded Diamondback Energy from an overweight rating to a neutral rating and cut their price target for the company from $154.00 to $36.00 in a report on Tuesday, March 24th. TD Securities lifted their price target on Diamondback Energy from $47.00 to $55.00 and gave the company a buy rating in a report on Tuesday, May 5th. Finally, Goldman Sachs Group downgraded Diamondback Energy from a buy rating to a neutral rating and lifted their price target for the company from $49.50 to $50.50 in a report on Monday, June 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $70.78.

FANG opened at $41.82 on Friday. The stock’s fifty day moving average is $44.90 and its two-hundred day moving average is $56.49. The company has a market capitalization of $6.54 billion, a P/E ratio of -107.23, a PEG ratio of 0.78 and a beta of 2.21. Diamondback Energy has a 52 week low of $14.55 and a 52 week high of $111.84. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.40.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.29 by $0.16. Diamondback Energy had a positive return on equity of 7.03% and a negative net margin of 1.05%. The company had revenue of $899.00 million for the quarter, compared to the consensus estimate of $968.57 million. During the same period last year, the business posted $1.39 EPS. Diamondback Energy’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts anticipate that Diamondback Energy will post 2.41 earnings per share for the current year.

In related news, CFO Hof Matthew Kaes Van’t acquired 1,800 shares of the firm’s stock in a transaction dated Friday, June 19th. The stock was acquired at an average price of $46.92 per share, with a total value of $84,456.00. Following the acquisition, the chief financial officer now directly owns 53,930 shares in the company, valued at approximately $2,530,395.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Diamondback Energy by 15.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,512 shares of the oil and natural gas company’s stock valued at $140,000 after buying an additional 199 shares during the period. SRB Corp increased its stake in shares of Diamondback Energy by 4.0% in the 1st quarter. SRB Corp now owns 7,198 shares of the oil and natural gas company’s stock valued at $189,000 after purchasing an additional 278 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in shares of Diamondback Energy by 2.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 13,139 shares of the oil and natural gas company’s stock valued at $344,000 after purchasing an additional 298 shares in the last quarter. Standard Life Aberdeen plc increased its stake in shares of Diamondback Energy by 0.6% in the 4th quarter. Standard Life Aberdeen plc now owns 61,704 shares of the oil and natural gas company’s stock valued at $5,730,000 after purchasing an additional 338 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new position in shares of Diamondback Energy in the 4th quarter valued at about $37,000. 96.25% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Company Profile

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 primarily 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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