Diamondback Energy, Inc. (NASDAQ:FANG) Given Consensus Rating of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Diamondback Energy, Inc. (NASDAQ:FANG – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $210.70.

Several research firms have weighed in on FANG. Mizuho lowered their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Morgan Stanley boosted their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Wells Fargo & Company boosted their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 target price for the company.

Read Our Latest Analysis on FANG

Diamondback Energy Stock Up 0.2 %

Diamondback Energy stock opened at $158.34 on Wednesday. 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 has a 1-year low of $147.93 and a 1-year high of $214.50. The company has a fifty day simple moving average of $172.98 and a 200 day simple moving average of $185.41. The company has a market cap of $46.23 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 1.21 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG – Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business earned $5.49 EPS. Diamondback Energy’s revenue was up 13.0% on a year-over-year basis. Research analysts anticipate that Diamondback Energy will post 16.28 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

A number of institutional investors have recently modified their holdings of the business. Carolinas Wealth Consulting LLC raised its stake in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Financial Advocates Investment Management increased its position in Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after purchasing an additional 55 shares in the last quarter. Center For Asset Management LLC lifted its stake in Diamondback Energy by 3.3% in the 2nd quarter. Center For Asset Management LLC now owns 1,859 shares of the oil and natural gas company’s stock valued at $372,000 after purchasing an additional 60 shares during the last quarter. Brighton Jones LLC boosted its position in Diamondback Energy by 0.8% in the second quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company’s stock valued at $1,566,000 after buying an additional 60 shares in the last quarter. Finally, Greenup Street Wealth Management LLC boosted its position in Diamondback Energy by 3.4% in the third quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock valued at $313,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

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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