Diamondback Energy, Inc. (NASDAQ:FANG) Receives $209.35 Average PT from Analysts

Diamondback Energy, Inc. (NASDAQ:FANGGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $209.35.

Several analysts have recently issued reports on the stock. Bank of America reiterated a “neutral” rating and issued a $201.00 target price on shares of Diamondback Energy in a research report on Friday, June 14th. Evercore ISI boosted their price target on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Susquehanna boosted their price target on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Sanford C. Bernstein started coverage on shares of Diamondback Energy in a research report on Thursday, June 6th. They set an “outperform” rating and a $243.00 price target on the stock. Finally, KeyCorp started coverage on shares of Diamondback Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price target on the stock.

View Our Latest Report on FANG

Insider Activity at Diamondback Energy

In related news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total value of $1,182,840.00. Following the completion of the transaction, the chief operating officer now owns 69,677 shares in the company, valued at $13,736,123.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Somerset Trust Co boosted its holdings in shares of Diamondback Energy by 4.0% in the 2nd quarter. Somerset Trust Co now owns 4,067 shares of the oil and natural gas company’s stock valued at $814,000 after buying an additional 155 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Diamondback Energy by 25.4% in the 2nd quarter. Park Avenue Securities LLC now owns 5,313 shares of the oil and natural gas company’s stock valued at $1,064,000 after buying an additional 1,077 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $213,000. Fulton Bank N.A. boosted its holdings in shares of Diamondback Energy by 32.8% in the 2nd quarter. Fulton Bank N.A. now owns 2,666 shares of the oil and natural gas company’s stock valued at $534,000 after buying an additional 659 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $465,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.4 %

Shares of NASDAQ FANG opened at $202.60 on Wednesday. The company’s 50-day simple moving average is $196.72 and its 200-day simple moving average is $184.15. Diamondback Energy has a 52-week low of $132.21 and a 52-week high of $211.96. The firm has a market cap of $36.13 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.10 and a beta of 1.90. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANGGet Free Report) last announced its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the business earned $4.10 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities analysts predict that Diamondback Energy will post 19.05 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

About Diamondback Energy

(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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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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