Recent Research Analysts’ Ratings Updates for Diamondback Energy (FANG)

Posted by Emily Schoerning on Nov 15th, 2024

A number of research firms have changed their ratings and price targets for Diamondback Energy (NASDAQ: FANG):

11/13/2024 – Diamondback Energy was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
11/6/2024 – Diamondback Energy had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $210.00 price target on the stock.
11/5/2024 – Diamondback Energy was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
10/29/2024 – Diamondback Energy had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $195.00 price target on the stock.
10/18/2024 – Diamondback Energy had its “sector outperform” rating reaffirmed by analysts at Wells Fargo & Company.
10/18/2024 – Diamondback Energy had its price target lowered by analysts at Susquehanna from $237.00 to $233.00. They now have a “positive” rating on the stock.
10/18/2024 – Diamondback Energy had its price target lowered by analysts at Wells Fargo & Company from $219.00 to $218.00. They now have an “overweight” rating on the stock.
10/16/2024 – Diamondback Energy had its price target lowered by analysts at KeyCorp from $225.00 to $216.00. They now have an “overweight” rating on the stock.
10/16/2024 – Diamondback Energy had its price target raised by analysts at Truist Financial Co. from $220.00 to $230.00. They now have a “buy” rating on the stock.
10/15/2024 – Diamondback Energy had its price target raised by analysts at Piper Sandler from $240.00 to $252.00. They now have an “overweight” rating on the stock.
10/14/2024 – Diamondback Energy is now covered by analysts at Citigroup Inc.. They set a “neutral” rating and a $195.00 price target on the stock.
10/10/2024 – Diamondback Energy had its price target lowered by analysts at Scotiabank from $245.00 to $225.00. They now have a “sector outperform” rating on the stock.
10/4/2024 – Diamondback Energy was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $215.00 price target on the stock, up previously from $205.00.
10/3/2024 – Diamondback Energy had its price target raised by analysts at Benchmark Co. from $154.00 to $195.00. They now have a “buy” rating on the stock.
10/2/2024 – Diamondback Energy is now covered by analysts at JPMorgan Chase & Co.. They set an “overweight” rating and a $182.00 price target on the stock.
10/2/2024 – Diamondback Energy was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $210.00 price target on the stock, down previously from $216.00.
10/1/2024 – Diamondback Energy had its price target lowered by analysts at Wells Fargo & Company from $230.00 to $219.00. They now have an “overweight” rating on the stock.
9/30/2024 – Diamondback Energy had its price target lowered by analysts at Evercore ISI from $235.00 to $209.00. They now have an “outperform” rating on the stock.
9/30/2024 – Diamondback Energy had its price target lowered by analysts at Truist Financial Co. from $255.00 to $220.00. They now have a “buy” rating on the stock.
9/24/2024 – Diamondback Energy was downgraded by analysts at Johnson Rice from a “strong-buy” rating to a “moderate buy” rating.
9/18/2024 – Diamondback Energy had its price target lowered by analysts at UBS Group AG from $247.00 to $223.00. They now have a “buy” rating on the stock.
9/17/2024 – Diamondback Energy had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $220.00 price target on the stock.
9/16/2024 – Diamondback Energy had its price target raised by analysts at Morgan Stanley from $185.00 to $198.00. They now have an “overweight” rating on the stock.
9/16/2024 – Diamondback Energy is now covered by analysts at Jefferies Financial Group Inc.. They set a “hold” rating and a $185.00 price target on the stock.

Diamondback Energy Stock Up 0.6 %

FANG opened at $182.42 on Friday. The business’s fifty day moving average is $181.26 and its two-hundred day moving average is $191.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a market cap of $53.26 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 1.27 and a beta of 1.89. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG – Get Free Report) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned $5.49 earnings per share. Analysts anticipate that Diamondback Energy, Inc. will post 17 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 1.97%. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Community Trust NA purchased a new stake in shares of Diamondback Energy in the second quarter worth about $26,000. Carolinas Wealth Consulting LLC boosted its position in shares of 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 worth $27,000 after buying an additional 55 shares during the period. HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the second quarter worth about $40,000. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy in the third quarter worth about $42,000. Finally, Founders Capital Management boosted its position in shares of Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after buying an additional 125 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.