Diamondback Energy (NASDAQ:FANG) Reaches New 12-Month Low – What’s Next?

Diamondback Energy, Inc. (NASDAQ:FANG) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $124.40 and last traded at $127.96, with a volume of 1581622 shares changing hands. The stock had previously closed at $141.28.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FANG. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Raymond James lowered their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research report on Wednesday, March 12th. Citigroup reduced their price objective on shares of Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Morgan Stanley lowered their target price on shares of Diamondback Energy from $227.00 to $206.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Finally, Wells Fargo & Company cut their price target on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.33.

Diamondback Energy Trading Down 12.7 %

The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $35.71 billion, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The business has a fifty day moving average price of $155.91 and a 200 day moving average price of $168.89.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. On average, analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.24%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Insiders Place Their Bets

In related news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FANG. Lakewood Asset Management LLC boosted its holdings in shares of Diamondback Energy by 0.5% in the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after buying an additional 60 shares during the last quarter. Magnolia Capital Advisors LLC grew its position in shares of Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after acquiring an additional 64 shares during the period. Barden Capital Management Inc. increased its stake in shares of Diamondback Energy by 1.5% during the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 64 shares during the last quarter. Greenleaf Trust raised its holdings in shares of Diamondback Energy by 1.0% in the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after purchasing an additional 66 shares during the period. Finally, Buckhead Capital Management LLC lifted its stake in Diamondback Energy by 0.3% in the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after purchasing an additional 67 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Company Profile

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.