Diamondback Energy, Inc. (NASDAQ:FANG) Given Average Rating of “Moderate Buy” by Analysts

Diamondback Energy, Inc. (NASDAQ:FANGGet Rating) has earned a consensus rating of “Moderate Buy” from the twenty-three research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $180.35.

A number of equities analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Diamondback Energy in a report on Tuesday. They set an “overweight” rating for the company. Raymond James increased their target price on Diamondback Energy from $190.00 to $200.00 and gave the stock a “strong-buy” rating in a report on Monday, October 24th. Truist Financial increased their target price on Diamondback Energy from $203.00 to $209.00 and gave the stock a “buy” rating in a report on Friday, November 18th. StockNews.com began coverage on Diamondback Energy in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, MKM Partners raised their price objective on Diamondback Energy to $170.00 in a report on Tuesday, November 15th.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $147.24 on Wednesday. The company has a market capitalization of $25.91 billion, a PE ratio of 6.00, a PEG ratio of 0.28 and a beta of 2.00. Diamondback Energy has a 12 month low of $103.71 and a 12 month high of $168.95. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $141.70 and its 200 day simple moving average is $136.96.

Diamondback Energy (NASDAQ:FANGGet Rating) last issued its quarterly earnings data on Monday, November 7th. The oil and natural gas company reported $6.48 EPS for the quarter, missing the consensus estimate of $6.51 by ($0.03). The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.38 billion. Diamondback Energy had a return on equity of 28.49% and a net margin of 45.47%. On average, research analysts predict that Diamondback Energy will post 24.5 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a None dividend, which was paid on Friday, November 25th. Shareholders of record on Thursday, November 17th were paid a dividend of $2.26 per share. The ex-dividend date was Wednesday, November 16th. This represents a yield of 4.7%. Diamondback Energy’s dividend payout ratio (DPR) is currently 12.22%.

Insider Buying and Selling at Diamondback Energy

In other news, VP Matt Zmigrosky sold 2,012 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $136.96, for a total value of $275,563.52. Following the transaction, the vice president now owns 23,623 shares in the company, valued at approximately $3,235,406.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Armstrong Advisory Group Inc. purchased a new position in shares of Diamondback Energy in the 4th quarter worth approximately $25,000. Carolinas Wealth Consulting LLC raised its holdings in shares of Diamondback Energy by 366.7% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 176 shares during the period. Adirondack Trust Co. raised its holdings in shares of Diamondback Energy by 275.0% in the 3rd quarter. Adirondack Trust Co. now owns 225 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 165 shares during the period. Private Trust Co. NA bought a new stake in shares of Diamondback Energy in the 2nd quarter worth approximately $28,000. Finally, SOA Wealth Advisors LLC. raised its holdings in shares of Diamondback Energy by 72.1% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 241 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

About Diamondback Energy

(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.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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