Diamondback Energy (NASDAQ:FANG - Free Report) had its price target raised by Raymond James from $232.00 to $237.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a strong-buy rating on the oil and natural gas company's stock.
FANG has been the subject of a number of other reports. Wells Fargo & Company reaffirmed a "sector outperform" rating on shares of Diamondback Energy in a research note on Friday, October 18th. KeyCorp reduced their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Scotiabank reduced their price objective on shares of Diamondback Energy from $245.00 to $225.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They set a "hold" rating and a $185.00 price objective for the company. Finally, Truist Financial upped their price objective on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $212.00.
Read Our Latest Analysis on FANG
Diamondback Energy Price Performance
NASDAQ FANG traded down $1.78 on Tuesday, reaching $180.12. The company's stock had a trading volume of 1,632,817 shares, compared to its average volume of 1,753,458. Diamondback Energy has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market cap of $52.59 billion, a PE ratio of 10.41, a PEG ratio of 1.26 and a beta of 1.89. The firm's 50 day moving average is $181.22 and its two-hundred day moving average is $191.22.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company posted $5.49 earnings per share. Diamondback Energy's revenue was up 13.0% compared to the same quarter last year. As a group, sell-side analysts predict that Diamondback Energy will post 16.78 EPS for the current year.
Diamondback Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, November 14th. Diamondback Energy's payout ratio is 20.61%.
Insider Buying and Selling
In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company's stock, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now owns 4,712 shares of the company's stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company's stock.
Institutional Trading of Diamondback Energy
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Diamondback Energy by 1.3% in the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company's stock valued at $2,044,415,000 after buying an additional 149,871 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company's stock valued at $1,706,076,000 after buying an additional 2,381,488 shares during the last quarter. Geode Capital Management LLC grew its holdings in Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company's stock valued at $793,611,000 after buying an additional 266,299 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Diamondback Energy by 16.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company's stock valued at $603,038,000 after buying an additional 415,902 shares during the last quarter. Finally, Boston Partners grew its holdings in Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company's stock valued at $541,844,000 after buying an additional 1,916,900 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.
Diamondback Energy Company Profile
(
Get Free Report)
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.
Featured Stories
Before you consider Diamondback Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Diamondback Energy wasn't on the list.
While Diamondback Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
