Diamondback Energy (FANG) – Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for Diamondback Energy (NASDAQ: FANG):

• 4/11/2024 – Diamondback Energy had its price target raised by analysts at Scotiabank from $210.00 to $255.00. They now have a “sector outperform” rating on the stock.
• 4/11/2024 – Diamondback Energy had its price target raised by analysts at Mizuho from $200.00 to $217.00. They now have a “buy” rating on the stock.
• 4/10/2024 – Diamondback Energy is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $214.00 price target on the stock.
• 4/5/2024 – Diamondback Energy had its price target lowered by analysts at Truist Financial Co. from $250.00 to $248.00. They now have a “buy” rating on the stock.
• 3/28/2024 – Diamondback Energy had its price target raised by analysts at Morgan Stanley from $177.00 to $186.00. They now have an “overweight” rating on the stock.
• 3/25/2024 – Diamondback Energy had its price target raised by analysts at Evercore ISI from $185.00 to $215.00. They now have an “outperform” rating on the stock.
• 3/22/2024 – Diamondback Energy had its price target raised by analysts at Stifel Nicolaus from $192.00 to $224.00. They now have a “buy” rating on the stock.
• 3/21/2024 – Diamondback Energy had its price target raised by analysts at KeyCorp from $186.00 to $210.00. They now have an “overweight” rating on the stock.
• 3/7/2024 – Diamondback Energy had its price target raised by analysts at Piper Sandler from $222.00 to $227.00. They now have an “overweight” rating on the stock.
• 3/5/2024 – Diamondback Energy had its price target raised by analysts at Mizuho from $177.00 to $200.00. They now have a “buy” rating on the stock.
• 3/4/2024 – Diamondback Energy had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $195.00 price target on the stock.
• 2/15/2024 – Diamondback Energy had its price target raised by analysts at Royal Bank of Canada from $180.00 to $195.00. They now have an “outperform” rating on the stock.
• 2/14/2024 – Diamondback Energy had its price target raised by analysts at UBS Group AG from $183.00 to $200.00. They now have a “buy” rating on the stock.
• 2/13/2024 – Diamondback Energy had its price target raised by analysts at Scotiabank from $180.00 to $200.00. They now have a “sector outperform” rating on the stock.
• 2/13/2024 – Diamondback Energy had its price target raised by analysts at Susquehanna from $190.00 to $195.00. They now have a “positive” rating on the stock.
• 2/13/2024 – Diamondback Energy had its price target raised by analysts at Piper Sandler from $201.00 to $222.00. They now have an “overweight” rating on the stock.
• 2/13/2024 – Diamondback Energy had its price target raised by analysts at KeyCorp from $170.00 to $186.00. They now have an “overweight” rating on the stock.
• 2/13/2024 – Diamondback Energy had its price target raised by analysts at BMO Capital Markets from $167.00 to $175.00. They now have a “market perform” rating on the stock.
• 2/12/2024 – Diamondback Energy was upgraded by analysts at Bank of America Co. from an “underperform” rating to a “neutral” rating. They now have a $170.00 price target on the stock, up previously from $129.00.

Diamondback Energy Trading Up 1.0 %

NASDAQ:FANG opened at $208.26 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $208.49. The company has a market cap of $37.14 billion, a P/E ratio of 12.01 and a beta of 1.93. The business has a 50 day moving average price of $183.73 and a two-hundred day moving average price of $165.53.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $5.29 EPS. As a group, analysts expect that Diamondback Energy, Inc. will post 18.52 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were paid a dividend of $3.08 per share. The ex-dividend date was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a dividend yield of 5.92%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is 20.76%.

Insider Transactions at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Founders Capital Management grew its position in Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after buying an additional 101 shares during the period. BKM Wealth Management LLC purchased a new stake in Diamondback Energy in the fourth quarter worth $27,000. Hobbs Group Advisors LLC bought a new stake in shares of Diamondback Energy in the fourth quarter valued at $27,000. BluePath Capital Management LLC purchased a new position in shares of Diamondback Energy during the 3rd quarter valued at $28,000. Finally, FinTrust Capital Advisors LLC grew its stake in shares of Diamondback Energy by 232.8% during the 4th quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock worth $29,000 after acquiring an additional 149 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.