Brokerages Set Diamondback Energy, Inc. (NASDAQ:FANG) Price Target at $210.09

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have earned an average rating of “Moderate Buy” from the twenty-three brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $209.64.

Several research firms recently commented on FANG. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Susquehanna reduced their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Evercore ISI lowered their target price on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Truist Financial lifted their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. began coverage on shares of Diamondback Energy in a research note on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price objective on the stock.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Several hedge funds have recently modified their holdings of FANG. First Community Trust NA acquired a new position in shares of Diamondback Energy in the 2nd quarter worth approximately $26,000. Carolinas Wealth Consulting LLC raised its stake in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in Diamondback Energy in the second quarter valued at $40,000. Values First Advisors Inc. bought a new stake in Diamondback Energy during the third quarter valued at $42,000. Finally, Founders Capital Management grew its holdings in Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $179.13 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.64 and a current ratio of 0.45. The company has a 50-day moving average of $181.77 and a 200-day moving average of $192.15. Diamondback Energy has a 52 week low of $145.70 and a 52 week high of $214.50. The company has a market capitalization of $52.80 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.28 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the company earned $5.49 EPS. As a group, equities research analysts anticipate that Diamondback Energy will post 17 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

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.