Diamondback Energy, Inc. (NASDAQ:FANG) Receives $209.33 Consensus Target Price from Analysts

Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-three research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $209.33.

Several research firms have commented on FANG. JPMorgan Chase & Co. dropped their price objective on shares of Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada restated an "outperform" rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Citigroup cut their price objective on shares of Diamondback Energy from $195.00 to $157.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Mizuho boosted their target price 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. Finally, Williams Trading set a $190.00 price target on Diamondback Energy in a report on Wednesday, March 5th.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares of the company's stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company's stock.

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Hedge Funds Weigh In On Diamondback Energy

Large investors have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Diamondback Energy by 1.3% in the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company's stock worth $2,044,415,000 after buying an additional 149,871 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the period. Boston Partners increased its stake in Diamondback Energy by 12.4% in the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after purchasing an additional 571,820 shares during the period. Geode Capital Management LLC lifted its position in Diamondback Energy by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock valued at $769,706,000 after purchasing an additional 91,605 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Diamondback Energy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock valued at $682,036,000 after purchasing an additional 502,916 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded down $17.91 on Friday, reaching $123.37. 5,423,563 shares of the company traded hands, compared to its average volume of 2,004,450. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market capitalization of $35.71 billion, a PE ratio of 7.06, a PEG ratio of 1.24 and a beta of 1.85. The company has a 50 day moving average of $155.91 and a 200 day moving average of $168.96. Diamondback Energy has a 52 week low of $123.15 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Equities analysts forecast that Diamondback Energy will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio is currently 25.32%.

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.