Ifs Securities began coverage on shares of Diamondback Energy (NASDAQ:FANG) in a report issued on Monday, October 29th, Marketbeat.com reports. The brokerage issued a strong-buy rating on the oil and natural gas company’s stock.
Several other analysts have also recently weighed in on the company. Morgan Stanley set a $171.00 price target on Diamondback Energy and gave the company a buy rating in a report on Friday, October 12th. SunTrust Banks reaffirmed a buy rating and issued a $170.00 price target on shares of Diamondback Energy in a report on Friday, August 10th. KLR Group reaffirmed a buy rating and issued a $211.00 price target on shares of Diamondback Energy in a report on Monday, August 20th. Wells Fargo & Co reaffirmed an outperform rating and issued a $183.00 price target on shares of Diamondback Energy in a report on Wednesday, October 24th. Finally, BidaskClub upgraded Diamondback Energy from a hold rating to a buy rating in a research report on Friday, September 21st. Five research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy currently has a consensus rating of Buy and an average target price of $157.18.
FANG traded up $0.50 during trading on Monday, reaching $109.23. 1,527,470 shares of the company were exchanged, compared to its average volume of 1,997,065. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 0.63 and a beta of 0.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.08 and a current ratio of 1.10. Diamondback Energy has a 12-month low of $105.66 and a 12-month high of $140.78.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.15. The business had revenue of $538.03 million for the quarter, compared to analysts’ expectations of $518.32 million. Diamondback Energy had a return on equity of 10.75% and a net margin of 33.63%. The firm’s quarterly revenue was up 78.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 EPS. On average, research analysts forecast that Diamondback Energy will post 6.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Monday, November 19th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, November 16th. This represents a $0.50 annualized dividend and a yield of 0.46%. Diamondback Energy’s payout ratio is 9.43%.
In other news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total value of $255,600.00. Following the sale, the vice president now directly owns 89,532 shares in the company, valued at approximately $11,442,189.60. The sale was disclosed in a filing with the SEC, which is available through this link. 0.57% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Adams Diversified Equity Fund Inc. purchased a new position in shares of Diamondback Energy in the 3rd quarter valued at approximately $12,397,000. Cozad Asset Management Inc. purchased a new position in Diamondback Energy during the second quarter valued at $3,949,000. Investec Asset Management LTD purchased a new position in Diamondback Energy during the second quarter valued at $8,378,000. Zeke Capital Advisors LLC purchased a new position in Diamondback Energy during the third quarter valued at $1,636,000. Finally, Hartline Investment Corp raised its stake in Diamondback Energy by 28.0% during the second quarter. Hartline Investment Corp now owns 19,329 shares of the oil and natural gas company’s stock valued at $2,543,000 after buying an additional 4,233 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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