Diamondback Energy (NASDAQ:FANG) Cut to Sell at StockNews.com

by · The Markets Daily

StockNews.com cut shares of Diamondback Energy (NASDAQ:FANG – Free Report) from a hold rating to a sell rating in a research report report published on Tuesday.

A number of other research firms also recently weighed in on FANG. Piper Sandler boosted their price target on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. KeyCorp dropped their target price on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Jefferies Financial Group assumed coverage on Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 price target on the stock. JPMorgan Chase & Co. started coverage on Diamondback Energy in a research note on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price objective for the company. Finally, Bank of America increased their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.64.

Check Out Our Latest Analysis on Diamondback Energy

Diamondback Energy Stock Performance

FANG stock opened at $181.59 on Tuesday. The company has a 50 day moving average price of $182.34 and a 200 day moving average price of $192.55. Diamondback Energy has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a market capitalization of $53.52 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 1.26 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG – Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 17.64%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company earned $5.49 EPS. Analysts forecast that Diamondback Energy will post 17.1 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. First Community Trust NA acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC lifted its stake in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the 2nd quarter valued at about $40,000. Values First Advisors Inc. acquired a new position in shares of Diamondback Energy during the 3rd quarter worth about $42,000. Finally, Founders Capital Management raised its holdings in shares of Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 125 shares during the period. 90.01% of the stock is 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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