Diamondback Energy, Inc. (NASDAQ:FANG) Receives $195.95 Average PT from Brokerages

Diamondback Energy, Inc. (NASDAQ:FANG) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $202.53.

Several research analysts recently issued reports on FANG shares. Raymond James lowered their target price on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Barclays started coverage on Diamondback Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 target price for the company. Evercore ISI raised their target price on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Piper Sandler raised their target price on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, UBS Group raised their target price on Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th.

Insiders Place Their Bets

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred on 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 sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock valued at $11,311,096 in the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Diamondback Energy

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Diamondback Energy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after acquiring an additional 176,208 shares during the period. Wellington Management Group LLP raised its holdings in Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after acquiring an additional 648,317 shares during the period. Morgan Stanley raised its holdings in Diamondback Energy by 2.6% during the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock valued at $541,175,000 after acquiring an additional 89,663 shares during the period. Invesco Ltd. raised its holdings in Diamondback Energy by 6.6% during the 3rd quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock valued at $514,289,000 after acquiring an additional 206,189 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Diamondback Energy by 39.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after acquiring an additional 858,446 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.9 %

Shares of FANG stock opened at $204.37 on Friday. The stock’s fifty day moving average price is $191.41 and its two-hundred day moving average price is $168.61. The company has a market cap of $36.45 billion, a PE ratio of 11.79 and a beta of 1.93. Diamondback Energy has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company earned $5.29 EPS. Diamondback Energy’s revenue was up 9.8% compared to the same quarter last year. Equities analysts predict that Diamondback Energy will post 18.53 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. Shareholders of record on Tuesday, March 5th were given a dividend of $3.08 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a dividend yield of 6.03%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.76%.

Diamondback Energy Company Profile

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.