Susquehanna Cuts Diamondback Energy (NASDAQ:FANG) Price Target to $237.00

Diamondback Energy (NASDAQ:FANG) had its target price cut by Susquehanna from $245.00 to $237.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a positive rating on the oil and natural gas company’s stock.

Several other equities analysts also recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Diamondback Energy from $249.00 to $240.00 and set an overweight rating for the company in a research note on Thursday, August 15th. Sanford C. Bernstein cut their price target on Diamondback Energy from $243.00 to $236.00 and set an outperform rating on the stock in a research report on Wednesday, July 17th. Benchmark reissued a buy rating and issued a $154.00 price objective on shares of Diamondback Energy in a report on Tuesday, August 6th. StockNews.com cut shares of Diamondback Energy from a buy rating to a hold rating in a report on Saturday, July 6th. Finally, KeyCorp began coverage on shares of Diamondback Energy in a research note on Thursday, June 27th. They set an overweight rating and a $225.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $211.45.

Diamondback Energy Stock Down 2.3 %

Shares of NASDAQ FANG opened at $179.73 on Wednesday. Diamondback Energy has a 1 year low of $143.08 and a 1 year high of $214.50. The company has a market capitalization of $32.05 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The business has a 50-day moving average of $198.04 and a two-hundred day moving average of $195.93.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the company earned $3.68 earnings per share. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. On average, analysts forecast that Diamondback Energy will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $2.34 dividend. The ex-dividend date was Thursday, August 15th. This is an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s payout ratio is 20.29%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quent Capital LLC increased its holdings in shares of Diamondback Energy by 7.2% in the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after purchasing an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC increased its holdings in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its position in shares of Diamondback Energy by 0.3% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock valued at $3,999,000 after acquiring an additional 56 shares during the period. Versant Capital Management Inc boosted its stake in shares of Diamondback Energy by 16.1% during the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock worth $82,000 after acquiring an additional 57 shares in the last quarter. Finally, Confluence Investment Management LLC grew its holdings in shares of Diamondback Energy by 1.6% in the 2nd quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock worth $734,000 after acquiring an additional 58 shares during the period. 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.