Diamondback Energy (NASDAQ:FANG) had its target price trimmed by Morgan Stanley from $171.00 to $153.00 in a report issued on Tuesday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research reaffirmed a hold rating on shares of Diamondback Energy in a research report on Tuesday, November 13th. Williams Capital set a $171.00 price target on shares of Diamondback Energy and gave the stock a buy rating in a research report on Wednesday, November 7th. Oppenheimer reaffirmed a buy rating on shares of Diamondback Energy in a research report on Tuesday, November 6th. Ifs Securities began coverage on shares of Diamondback Energy in a research report on Monday, October 29th. They issued a strong-buy rating for the company. Finally, BidaskClub cut shares of Diamondback Energy from a buy rating to a hold rating in a research report on Wednesday, October 24th. Five equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $157.18.

Shares of FANG opened at $110.19 on Tuesday. Diamondback Energy has a fifty-two week low of $105.66 and a fifty-two week high of $140.78. The company has a market capitalization of $11.52 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 0.65 and a beta of 0.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 1.08.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.15. Diamondback Energy had a net margin of 33.63% and a return on equity of 10.75%. The firm had revenue of $538.03 million during the quarter, compared to analysts’ expectations of $518.32 million. During the same quarter in the prior year, the company earned $1.33 EPS. The company’s revenue was up 78.6% compared to the same quarter last year. As a group, equities analysts expect that Diamondback Energy will post 6.68 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Monday, November 19th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, November 16th. This represents a $0.50 dividend on an annualized basis and a yield of 0.45%. Diamondback Energy’s payout ratio is 9.43%.

In related news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total transaction of $255,600.00. Following the completion of the sale, the vice president now owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.

A number of institutional investors have recently modified their holdings of FANG. Principal Financial Group Inc. increased its stake in Diamondback Energy by 13.2% during the 1st quarter. Principal Financial Group Inc. now owns 13,523 shares of the oil and natural gas company’s stock valued at $1,711,000 after purchasing an additional 1,578 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in Diamondback Energy during the 2nd quarter valued at approximately $1,132,000. Creative Planning acquired a new position in Diamondback Energy during the 2nd quarter valued at approximately $274,000. Unigestion Holding SA acquired a new position in Diamondback Energy during the 2nd quarter valued at approximately $3,329,000. Finally, Signature Estate & Investment Advisors LLC increased its stake in Diamondback Energy by 15.6% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 8,647 shares of the oil and natural gas company’s stock valued at $1,138,000 after purchasing an additional 1,170 shares in the last quarter.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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