Analysts Set Diamondback Energy, Inc. (NASDAQ:FANG) Price Target at $187.78

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have been assigned a consensus rating of “Moderate Buy” from the nineteen brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $189.21.

A number of analysts have issued reports on FANG shares. Piper Sandler lifted their target price on shares of Diamondback Energy from $222.00 to $227.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Mizuho boosted their price target on Diamondback Energy from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Susquehanna boosted their price target on Diamondback Energy from $190.00 to $195.00 and gave the stock a “positive” rating in a research report on Tuesday, February 13th. UBS Group boosted their price target on Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, Scotiabank boosted their price target on Diamondback Energy from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, February 13th.

Insider Transactions at Diamondback Energy

In other news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 approximately $35,470,003.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was 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 in the company, valued at approximately $35,470,003.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at $18,532,416. The disclosure for this sale can be found here. Insiders have sold 27,675 shares of company stock valued at $5,311,096 in the last three months. 0.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BKM Wealth Management LLC acquired a new stake in Diamondback Energy during the 4th quarter worth $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at about $27,000. BluePath Capital Management LLC acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at about $28,000. Logan Capital Management Inc. acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at about $31,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at about $32,000. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Up 1.2 %

Shares of NASDAQ FANG opened at $196.53 on Monday. The business has a 50 day simple moving average of $171.93 and a 200 day simple moving average of $161.65. Diamondback Energy has a 52 week low of $123.41 and a 52 week high of $198.12. The stock has a market cap of $35.07 billion, a price-to-earnings ratio of 11.33 and a beta of 1.92. 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 posted its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. The firm had revenue of $2.23 billion during 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 was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $5.29 earnings per share. On average, research analysts predict that Diamondback Energy will post 17.93 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a $3.08 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a dividend yield of 6.27%. The ex-dividend date was Monday, March 4th. Diamondback Energy’s payout ratio is presently 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.