Diamondback Energy, Inc. (NASDAQ:FANG) Receives $214.17 Consensus Target Price from Analysts

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have been given a consensus recommendation of “Moderate Buy” by the twenty-three research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $214.17.

A number of equities analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Wednesday, November 6th. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research report on Friday, January 3rd. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Finally, Susquehanna decreased their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th.

Insiders Place Their Bets

In related 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 value of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by company insiders.

Institutional Trading of Diamondback Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its stake in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the 3rd quarter valued at $42,000. CVA Family Office LLC grew its holdings in Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after buying an additional 65 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Diamondback Energy by 109.7% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after purchasing an additional 136 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Diamondback Energy during the third quarter worth $52,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 1.8 %

Diamondback Energy stock opened at $176.95 on Friday. The firm has a market cap of $51.67 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 1.48 and a beta of 1.88. Diamondback Energy has a 52 week low of $147.93 and a 52 week high of $214.50. The business’s 50-day moving average price is $170.62 and its 200 day moving average price is $182.73. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) 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 analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.49 EPS. As a group, sell-side analysts anticipate that Diamondback Energy will post 15.57 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. Shareholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.03%. Diamondback Energy’s dividend payout ratio (DPR) is 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.