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

Diamondback Energy, Inc. (NASDAQ:FANG) has received a consensus rating of “Buy” from the twenty-seven ratings firms that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $122.52.

A number of research analysts have issued reports on FANG shares. TD Securities lifted their price objective on Diamondback Energy from $130.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, November 2nd. Zacks Investment Research cut Diamondback Energy from a “strong-buy” rating to a “hold” rating and set a $115.00 price target for the company. in a report on Tuesday, December 7th. Wells Fargo & Company lifted their price target on Diamondback Energy from $112.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 19th. Raymond James lifted their price target on Diamondback Energy from $125.00 to $165.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 26th. Finally, Truist lifted their price target on Diamondback Energy from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday.

In other news, CAO Teresa L. Dick sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $114.51, for a total transaction of $286,275.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Daniel N. Wesson sold 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, December 1st. The stock was sold at an average price of $108.48, for a total value of $260,352.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,900 shares of company stock worth $3,888,757. Company insiders own 0.47% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Diamondback Energy by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 20,645,853 shares of the oil and natural gas company’s stock valued at $1,938,439,000 after acquiring an additional 357,012 shares during the period. State Street Corp grew its holdings in Diamondback Energy by 3.6% in the 2nd quarter. State Street Corp now owns 11,302,711 shares of the oil and natural gas company’s stock valued at $1,061,212,000 after buying an additional 397,748 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Diamondback Energy by 0.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,329,075 shares of the oil and natural gas company’s stock valued at $969,798,000 after buying an additional 62,003 shares in the last quarter. Boston Partners grew its holdings in Diamondback Energy by 14.9% in the 3rd quarter. Boston Partners now owns 4,813,539 shares of the oil and natural gas company’s stock valued at $455,818,000 after buying an additional 625,959 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Diamondback Energy by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 3,352,799 shares of the oil and natural gas company’s stock valued at $314,279,000 after buying an additional 117,628 shares in the last quarter. Institutional investors and hedge funds own 87.49% of the company’s stock.

FANG opened at $129.21 on Friday. Diamondback Energy has a fifty-two week low of $56.13 and a fifty-two week high of $129.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.71. The firm’s fifty day moving average price is $110.85 and its two-hundred day moving average price is $96.36. The company has a market capitalization of $23.41 billion, a P/E ratio of 67.30, a P/E/G ratio of 0.33 and a beta of 2.52.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Sunday, October 31st. The oil and natural gas company reported $2.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.81 by $0.13. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.48 billion. Diamondback Energy had a net margin of 7.95% and a return on equity of 12.95%. The business’s revenue was up 165.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 earnings per share. On average, equities research analysts expect that Diamondback Energy will post 11.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 18th. Shareholders of record on Thursday, November 11th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, November 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.55%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.45. Diamondback Energy’s dividend payout ratio is 104.17%.

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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