Diamondback Energy (NASDAQ:FANG) Sets New 1-Year High at $199.91

Diamondback Energy, Inc. (NASDAQ:FANGGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $199.91 and last traded at $199.91, with a volume of 1379 shares traded. The stock had previously closed at $198.17.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FANG shares. Stifel Nicolaus upped their price objective on shares of Diamondback Energy from $192.00 to $224.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Bank Of America (Bofa) decreased their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a report on Thursday, January 18th. KeyCorp upped their price objective on shares of Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Evercore ISI upped their price objective on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Finally, Mizuho upped their price objective on shares of Diamondback Energy from $177.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $190.11.

View Our Latest Stock Analysis on FANG

Diamondback Energy Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. The company’s 50 day moving average is $175.73 and its two-hundred day moving average is $162.84. The firm has a market cap of $35.76 billion, a P/E ratio of 11.56 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANGGet Free Report) last released its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the company earned $5.29 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 17.93 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a $3.08 dividend. This represents a $12.32 annualized dividend and a dividend yield of 6.15%. The ex-dividend date was Monday, March 4th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

Insider Activity at Diamondback Energy

In related news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the completion of the sale, the executive vice president now owns 44,445 shares in the company, valued at $8,619,663.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $18,532,416. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.94, for a total transaction of $969,700.00. Following the completion of the transaction, the executive vice president now directly owns 44,445 shares of the company’s stock, valued at approximately $8,619,663.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,675 shares of company stock worth $5,311,096. Company insiders own 0.43% of the company’s stock.

Institutional Trading of Diamondback Energy

Several hedge funds have recently modified their holdings of the company. Confluence Investment Management LLC acquired a new stake in shares of Diamondback Energy during the first quarter worth approximately $715,000. Kapitalo Investimentos Ltda increased its holdings in shares of Diamondback Energy by 1,842.5% during the fourth quarter. Kapitalo Investimentos Ltda now owns 4,390 shares of the oil and natural gas company’s stock worth $681,000 after buying an additional 4,164 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth approximately $414,000. SCP Investment LP increased its holdings in shares of Diamondback Energy by 111.1% during the fourth quarter. SCP Investment LP now owns 3,800 shares of the oil and natural gas company’s stock worth $589,000 after buying an additional 2,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Diamondback Energy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock worth $3,391,567,000 after buying an additional 176,208 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Company Profile

(Get Free Report)

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.

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