Diamondback Energy, Inc. (NASDAQ:FANG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have been given a consensus rating of “Moderate Buy” by the twenty-three ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $215.00.

Several equities research analysts have issued reports on FANG shares. Citigroup assumed coverage on shares of Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target on the stock. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a research note on Friday, January 3rd. Truist Financial increased their target price on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Benchmark reiterated a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. Finally, Raymond James lifted their price objective on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday.

Insider Buying and Selling

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by insiders.

Institutional Trading of Diamondback Energy

Hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings in shares of Diamondback Energy by 1,153.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after acquiring an additional 1,042,505 shares in the last quarter. Zimmer Partners LP acquired a new stake in Diamondback Energy during the 3rd quarter worth approximately $87,924,000. Holocene Advisors LP lifted its stake in Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after buying an additional 457,896 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after buying an additional 439,579 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Diamondback Energy by 280.8% during the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock worth $109,144,000 after acquiring an additional 402,026 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.5 %

Shares of FANG opened at $176.63 on Friday. Diamondback Energy has a 52 week low of $147.93 and a 52 week high of $214.50. The firm has a market capitalization of $51.57 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.44 and a beta of 1.88. The company has a 50-day simple moving average of $170.46 and a 200-day simple moving average of $182.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) 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). The firm had revenue of $2.65 billion for 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%. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.49 EPS. On average, equities research analysts expect that Diamondback Energy will post 15.58 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

About Diamondback Energy

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.