Diamondback Energy (NASDAQ:FANG) Given New $157.00 Price Target at Citigroup

Diamondback Energy (NASDAQ:FANG) had its price target cut by equities researchers at Citigroup from $195.00 to $157.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the oil and natural gas company’s stock. Citigroup’s target price points to a potential upside of 2.14% from the company’s current price.

A number of other research firms also recently weighed in on FANG. Raymond James cut their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a report on Thursday. Morgan Stanley increased their target price on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research note on Wednesday, March 5th. Finally, Mizuho upped their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $210.33.

Diamondback Energy Trading Up 2.3 %

Diamondback Energy stock traded up $3.51 during trading on Monday, hitting $153.71. The company’s stock had a trading volume of 1,144,079 shares, compared to its average volume of 2,449,338. The stock’s fifty day moving average is $162.00 and its 200 day moving average is $171.53. The stock has a market capitalization of $44.49 billion, a price-to-earnings ratio of 8.79, a P/E/G ratio of 1.24 and a beta of 1.85. Diamondback Energy has a 1-year low of $137.09 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The firm 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%. As a group, equities research analysts predict that Diamondback Energy will post 15.49 EPS for the current year.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors have recently modified their holdings of the stock. Wintrust Investments LLC acquired a new position in Diamondback Energy in the 4th quarter valued at $28,000. R Squared Ltd bought a new stake in Diamondback Energy in the 4th quarter valued at $29,000. UMB Bank n.a. raised its position in 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 worth $31,000 after purchasing an additional 136 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Diamondback Energy during the 4th quarter worth approximately $33,000. Finally, Key Financial Inc boosted its stake in shares of Diamondback Energy by 940.0% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

About Diamondback Energy

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.