Diamondback Energy, Inc. (NASDAQ:FANG) Receives $186.95 Consensus Target Price from Brokerages

Diamondback Energy, Inc. (NASDAQ:FANG) has been given an average recommendation of “Buy” by the twenty-two brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, twenty have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $188.7619.

Several equities research analysts have recently issued reports on FANG shares. Melius Research initiated coverage on Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price on the stock. Raymond James Financial dropped their price target on Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 8th. UBS Group upped their price objective on Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a report on Friday. Finally, Melius assumed coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 target price for the company.

Diamondback Energy Price Performance

FANG stock opened at $156.68 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The company’s fifty day moving average price is $147.29 and its 200-day moving average price is $144.32. Diamondback Energy has a one year low of $114.00 and a one year high of $180.91. The company has a market capitalization of $44.87 billion, a PE ratio of 10.89 and a beta of 0.63.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. Diamondback Energy’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 EPS. On average, equities analysts anticipate that Diamondback Energy will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, November 13th. This represents a $4.00 annualized dividend and a yield of 2.6%. Diamondback Energy’s dividend payout ratio (DPR) is 27.80%.

Insider Activity at Diamondback Energy

In other news, Director Charles Alvin Meloy sold 377,911 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the sale, the director directly owned 1,044,864 shares in the company, valued at $144,828,599.04. The trade was a 26.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its position in Diamondback Energy by 8.8% during the third quarter. Allworth Financial LP now owns 2,159 shares of the oil and natural gas company’s stock valued at $309,000 after purchasing an additional 174 shares during the period. KERR FINANCIAL PLANNING Corp bought a new position in shares of Diamondback Energy during the 3rd quarter valued at approximately $38,000. CIBC Bancorp USA Inc. bought a new position in shares of Diamondback Energy during the 3rd quarter valued at approximately $5,240,000. Centaurus Financial Inc. raised its holdings in Diamondback Energy by 11.9% during the 3rd quarter. Centaurus Financial Inc. now owns 9,184 shares of the oil and natural gas company’s stock valued at $1,314,000 after buying an additional 977 shares during the period. Finally, Aspire Private Capital LLC lifted its position in Diamondback Energy by 3.2% in the third quarter. Aspire Private Capital LLC now owns 9,702 shares of the oil and natural gas company’s stock worth $1,388,000 after buying an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.