Diamondback Energy (NASDAQ:FANG) Price Target Raised to $204.00

Diamondback Energy (NASDAQ:FANG) had its target price upped by Mizuho from $201.00 to $204.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the oil and natural gas company’s stock.

Several other research firms also recently commented on FANG. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Morgan Stanley lifted their target price on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Finally, The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.09.

Diamondback Energy Stock Up 2.1 %

FANG opened at $155.59 on Tuesday. The stock’s fifty day simple moving average is $165.34 and its 200 day simple moving average is $175.63. Diamondback Energy has a 1-year low of $151.00 and a 1-year high of $214.50. The stock has a market cap of $45.43 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, research analysts expect that Diamondback Energy will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be paid a $1.00 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

Hedge Funds Weigh In On Diamondback Energy

A number of institutional investors have recently added to or reduced their stakes in FANG. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy during the fourth quarter worth $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at $29,000. UMB Bank n.a. grew its position in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in Diamondback Energy in the 4th quarter worth about $33,000. Finally, Key Financial Inc raised its position in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 188 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

About Diamondback Energy

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.