Recent Research Analysts’ Ratings Updates for Diamondback Energy (FANG)

Diamondback Energy (NASDAQ: FANG) has recently received a number of price target changes and ratings updates:

• 5/2/2024 – Diamondback Energy had its price target lowered by analysts at Wells Fargo & Company from $227.00 to $224.00. They now have an “overweight” rating on the stock.
• 5/2/2024 – Diamondback Energy was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 4/23/2024 – Diamondback Energy had its price target raised by analysts at Stifel Nicolaus from $224.00 to $229.00. They now have a “buy” rating on the stock.
• 4/22/2024 – Diamondback Energy had its price target raised by analysts at Susquehanna from $212.00 to $245.00. They now have a “positive” rating on the stock.
• 4/22/2024 – Diamondback Energy had its price target raised by analysts at KeyCorp from $210.00 to $225.00. They now have an “overweight” rating on the stock.
• 4/22/2024 – Diamondback Energy had its price target raised by analysts at Truist Financial Co. from $248.00 to $250.00. They now have a “buy” rating on the stock.
• 4/19/2024 – Diamondback Energy had its price target raised by analysts at Piper Sandler from $227.00 to $247.00. They now have an “overweight” rating on the stock.
• 4/15/2024 – Diamondback Energy had its price target lowered by analysts at Morgan Stanley from $186.00 to $184.00. They now have an “overweight” rating on the stock.
• 4/11/2024 – Diamondback Energy had its price target raised by analysts at Scotiabank from $210.00 to $255.00. They now have a “sector outperform” rating on the stock.
• 4/11/2024 – Diamondback Energy had its price target raised by analysts at Mizuho from $200.00 to $217.00. They now have a “buy” rating on the stock.
• 4/10/2024 – Diamondback Energy is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $214.00 price target on the stock.
• 4/5/2024 – Diamondback Energy had its price target lowered by analysts at Truist Financial Co. from $250.00 to $248.00. They now have a “buy” rating on the stock.
• 3/28/2024 – Diamondback Energy had its price target raised by analysts at Morgan Stanley from $177.00 to $186.00. They now have an “overweight” rating on the stock.
• 3/25/2024 – Diamondback Energy had its price target raised by analysts at Evercore ISI from $185.00 to $215.00. They now have an “outperform” rating on the stock.
• 3/22/2024 – Diamondback Energy had its price target raised by analysts at Stifel Nicolaus from $192.00 to $224.00. They now have a “buy” rating on the stock.
• 3/21/2024 – Diamondback Energy had its price target raised by analysts at KeyCorp from $186.00 to $210.00. They now have an “overweight” rating on the stock.
• 3/7/2024 – Diamondback Energy had its price target raised by analysts at Piper Sandler from $222.00 to $227.00. They now have an “overweight” rating on the stock.

Diamondback Energy Trading Up 2.0 %

FANG stock opened at $201.50 on Monday. The company’s 50-day simple moving average is $195.49 and its 200-day simple moving average is $170.84. The company has a quick ratio of 0.74, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The firm has a market cap of $35.94 billion, a P/E ratio of 11.36 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the company posted $4.10 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 18.91 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Tuesday, May 14th. Diamondback Energy’s payout ratio is currently 20.29%.

Insider Transactions at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the completion of the transaction, the chief operating officer now directly owns 78,218 shares in the company, valued at $15,031,153.06. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock valued at $11,311,096 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its holdings in shares of Diamondback Energy by 39.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock worth $465,817,000 after buying an additional 858,446 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $128,720,000. Wellington Management Group LLP increased its holdings in shares of Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after buying an additional 648,317 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Diamondback Energy by 143.0% during the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after buying an additional 577,514 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Diamondback Energy by 286.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock worth $92,380,000 after buying an additional 441,411 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.