Shares of Diamondback Energy Inc (NASDAQ:FANG) have received an average recommendation of “Buy” from the thirty brokerages that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $163.60.
A number of research firms have recently commented on FANG. Morgan Stanley increased their target price on shares of Diamondback Energy from $152.00 to $153.00 and gave the stock an “overweight” rating in a report on Thursday. BidaskClub raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Raymond James raised shares of Diamondback Energy from an “outperform” rating to a “strong-buy” rating in a report on Thursday, May 9th. Finally, Williams Capital reissued a “buy” rating and issued a $165.00 target price on shares of Diamondback Energy in a report on Wednesday, May 8th.
In other Diamondback Energy news, insider Randall J. Holder sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $104.13, for a total transaction of $416,520.00. Following the completion of the transaction, the insider now owns 14,448 shares in the company, valued at approximately $1,504,470.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $101.82, for a total transaction of $173,094.00. Following the transaction, the chief financial officer now owns 28,965 shares of the company’s stock, valued at approximately $2,949,216.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,050 shares of company stock valued at $626,158. 0.47% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Ranger Investment Management L.P. bought a new position in Diamondback Energy during the 4th quarter worth approximately $25,000. Berman Capital Advisors LLC raised its holdings in Diamondback Energy by 180.8% during the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 188 shares during the last quarter. Legacy Financial Advisors Inc. bought a new position in Diamondback Energy during the 4th quarter worth approximately $30,000. Manchester Capital Management LLC bought a new position in Diamondback Energy during the 1st quarter worth approximately $34,000. Finally, Bronfman E.L. Rothschild L.P. raised its holdings in Diamondback Energy by 136.7% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 400 shares of the oil and natural gas company’s stock worth $37,000 after purchasing an additional 231 shares during the last quarter.
Shares of FANG stock traded up $0.39 on Thursday, reaching $111.02. The company had a trading volume of 1,281,208 shares, compared to its average volume of 1,970,162. The stock has a market capitalization of $18.28 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 0.67 and a beta of 0.80. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.32. Diamondback Energy has a one year low of $85.19 and a one year high of $140.78.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $864.00 million during the quarter, compared to analysts’ expectations of $893.16 million. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The business’s revenue for the quarter was up 80.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share. As a group, equities analysts predict that Diamondback Energy will post 8.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 28th will be issued a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Friday, May 24th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.13. Diamondback Energy’s dividend payout ratio (DPR) is 8.52%.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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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