Diamondback Energy, Inc. (NASDAQ:FANG) Receives Average Rating of “Buy” from Analysts

Diamondback Energy, Inc. (NASDAQ:FANGGet Rating) has earned an average rating of “Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $160.58.

Several research firms recently issued reports on FANG. Scotiabank raised their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 9th. Bank of America cut shares of Diamondback Energy from a “buy” rating to a “neutral” rating and lifted their price target for the company from $165.00 to $170.00 in a research report on Tuesday, March 8th. Royal Bank of Canada lifted their price target on shares of Diamondback Energy from $150.00 to $160.00 in a research report on Thursday, February 24th. Piper Sandler lifted their price target on shares of Diamondback Energy from $163.00 to $181.00 and gave the company an “overweight” rating in a research report on Thursday, April 7th. Finally, Wells Fargo & Company lifted their price target on shares of Diamondback Energy from $198.00 to $204.00 and gave the company an “overweight” rating in a research report on Tuesday, April 19th.

Diamondback Energy stock opened at $126.00 on Monday. Diamondback Energy has a 12-month low of $65.93 and a 12-month high of $147.99. The stock has a market cap of $22.35 billion, a P/E ratio of 10.38, a PEG ratio of 0.27 and a beta of 2.30. The company has a 50-day moving average price of $135.20 and a 200 day moving average price of $121.82. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 0.50.

Diamondback Energy (NASDAQ:FANGGet Rating) last released its quarterly earnings data on Tuesday, February 22nd. The oil and natural gas company reported $3.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.38 by $0.25. Diamondback Energy had a net margin of 32.10% and a return on equity of 16.33%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the business earned $0.82 earnings per share. Diamondback Energy’s revenue was up 162.9% compared to the same quarter last year. As a group, analysts forecast that Diamondback Energy will post 23.43 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 11th. Investors of record on Friday, March 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, March 3rd. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.50. Diamondback Energy’s dividend payout ratio is 19.77%.

In other Diamondback Energy news, COO Daniel N. Wesson sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $134.95, for a total transaction of $472,325.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Teresa L. Dick sold 2,500 shares of the stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $140.03, for a total transaction of $350,075.00. The disclosure for this sale can be found here. Insiders sold 24,000 shares of company stock worth $3,319,960 in the last three months. 0.47% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Dark Forest Capital Management LP acquired a new stake in shares of Diamondback Energy during the third quarter worth about $26,000. Paragon Capital Management Ltd acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $28,000. Harbor Investment Advisory LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $35,000. Confluence Wealth Services Inc. acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $38,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 89.27% 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.

Featured Stories

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.