TD Securities set a $175.00 price target on Diamondback Energy (NASDAQ:FANG) in a research note released on Saturday. The brokerage currently has a buy rating on the oil and natural gas company’s stock.
A number of other equities analysts also recently commented on FANG. Piper Jaffray Companies reissued a buy rating and issued a $143.00 target price on shares of Diamondback Energy in a research note on Wednesday, April 18th. Morgan Stanley lowered their price target on shares of Diamondback Energy to $159.00 and set an overweight rating for the company in a report on Friday, April 20th. BidaskClub raised shares of Diamondback Energy from a hold rating to a buy rating in a report on Friday, April 20th. KeyCorp raised their price target on shares of Diamondback Energy from $137.00 to $140.00 and gave the company a buy rating in a report on Monday, April 23rd. Finally, Stifel Nicolaus set a $167.00 price target on shares of Diamondback Energy and gave the company a buy rating in a report on Monday, April 23rd. Three investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Diamondback Energy has an average rating of Buy and a consensus target price of $149.88.
Diamondback Energy traded up $3.65, reaching $134.80, during trading hours on Friday, Marketbeat Ratings reports. 1,340,747 shares of the company were exchanged, compared to its average volume of 885,248. The company has a quick ratio of 0.52, a current ratio of 0.53 and a debt-to-equity ratio of 0.30. The company has a market cap of $12.93 billion, a P/E ratio of 25.43, a P/E/G ratio of 0.72 and a beta of 0.62. Diamondback Energy has a 52-week low of $85.73 and a 52-week high of $138.25.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing the Zacks’ consensus estimate of $1.64 by ($0.05). Diamondback Energy had a net margin of 33.37% and a return on equity of 10.73%. The business had revenue of $526.30 million during the quarter, compared to analysts’ expectations of $479.57 million. During the same period in the prior year, the business posted $1.25 EPS. The business’s revenue was up 95.4% on a year-over-year basis. research analysts forecast that Diamondback Energy will post 6.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 27th. Shareholders of record on Monday, August 20th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.37%. The ex-dividend date is Friday, August 17th. Diamondback Energy’s dividend payout ratio is currently 9.43%.
In other news, insider Michael L. Hollis sold 5,000 shares of Diamondback Energy stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $128.85, for a total value of $644,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $137.00, for a total transaction of $274,000.00. Following the completion of the transaction, the vice president now directly owns 91,532 shares of the company’s stock, valued at $12,539,884. The disclosure for this sale can be found here. Insiders sold a total of 10,332 shares of company stock valued at $1,367,579 over the last ninety days. Company insiders own 0.57% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Global X Management Co. LLC lifted its position in Diamondback Energy by 57.5% in the 1st quarter. Global X Management Co. LLC now owns 1,320 shares of the oil and natural gas company’s stock valued at $167,000 after purchasing an additional 482 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in Diamondback Energy by 13.2% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 4,300 shares of the oil and natural gas company’s stock valued at $566,000 after purchasing an additional 500 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in Diamondback Energy by 5.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 10,121 shares of the oil and natural gas company’s stock valued at $1,281,000 after purchasing an additional 504 shares during the last quarter. Dana Investment Advisors Inc. lifted its position in Diamondback Energy by 1.8% in the 2nd quarter. Dana Investment Advisors Inc. now owns 32,945 shares of the oil and natural gas company’s stock valued at $4,335,000 after purchasing an additional 572 shares during the last quarter. Finally, Marietta Investment Partners LLC lifted its position in Diamondback Energy by 1.0% in the 2nd quarter. Marietta Investment Partners LLC now owns 64,307 shares of the oil and natural gas company’s stock valued at $8,461,000 after purchasing an additional 618 shares during the last quarter.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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