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

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have earned an average rating of “Moderate Buy” from the twenty-four research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $212.65.

Several analysts recently weighed in on the company. Piper Sandler raised their price objective on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. KeyCorp reduced their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday, October 29th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Scotiabank reduced their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

A number of institutional investors have recently modified their holdings of FANG. First Community Trust NA acquired a new stake in Diamondback Energy in the 2nd quarter worth about $26,000. Carolinas Wealth Consulting LLC boosted its holdings in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. HHM Wealth Advisors LLC acquired a new stake in Diamondback Energy in the 2nd quarter worth about $40,000. Values First Advisors Inc. acquired a new stake in Diamondback Energy in the 3rd quarter worth about $42,000. Finally, Founders Capital Management boosted its holdings in Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after buying an additional 125 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 2.7 %

FANG stock opened at $170.99 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The stock has a market capitalization of $49.93 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 1.30 and a beta of 1.88. The business’s fifty day moving average price is $181.38 and its two-hundred day moving average price is $189.40.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business posted $5.49 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts anticipate that Diamondback Energy will post 16.26 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.11%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

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.