Benchmark Reaffirms “Buy” Rating for Diamondback Energy (NASDAQ:FANG)

Benchmark reiterated their buy rating on shares of Diamondback Energy (NASDAQ:FANGFree Report) in a research report report published on Thursday, Benzinga reports. The firm currently has a $154.00 target price on the oil and natural gas company’s stock.

Several other equities research analysts have also recently issued reports on the company. Morgan Stanley decreased their price objective on Diamondback Energy from $186.00 to $184.00 and set an overweight rating on the stock in a report on Monday, April 15th. Stifel Nicolaus increased their target price on Diamondback Energy from $224.00 to $229.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. Scotiabank increased their target price on Diamondback Energy from $210.00 to $255.00 and gave the stock a sector outperform rating in a research report on Thursday, April 11th. StockNews.com lowered Diamondback Energy from a buy rating to a hold rating in a research report on Wednesday. Finally, Evercore ISI increased their target price on Diamondback Energy from $185.00 to $215.00 and gave the stock an outperform rating in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of Moderate Buy and an average price target of $209.35.

Read Our Latest Analysis on FANG

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $190.88 on Thursday. The business’s fifty day moving average price is $197.14 and its two-hundred day moving average price is $179.74. The stock has a market cap of $34.04 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 1.05 and a beta of 1.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. Diamondback Energy has a one year low of $123.41 and a one year high of $211.96.

Diamondback Energy (NASDAQ:FANGGet Free Report) last posted its quarterly earnings data 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 return on equity of 19.36% and a net margin of 36.71%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the firm earned $4.10 earnings per share. The business’s revenue was up 15.7% on a year-over-year basis. On average, analysts forecast that Diamondback Energy will post 19.05 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.89%. Diamondback Energy’s dividend payout ratio is presently 20.29%.

Insider Activity

In other news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Jere W. Thompson III sold 900 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now directly owns 7,585 shares in the company, valued at $1,516,241.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The disclosure for this sale can be found here. Insiders sold 36,900 shares of company stock worth $7,362,750 over the last ninety days. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Diamondback Energy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock worth $3,391,567,000 after purchasing an additional 176,208 shares in the last quarter. Wellington Management Group LLP grew its stake in Diamondback Energy by 4.8% in the third 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 purchasing an additional 648,317 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Diamondback Energy by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares in the last quarter. Morgan Stanley grew its stake in Diamondback Energy by 2.6% in the third quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock worth $541,175,000 after purchasing an additional 89,663 shares in the last quarter. Finally, Boston Partners grew its stake in Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after purchasing an additional 1,916,900 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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