Diamondback Energy, Inc. (NASDAQ:FANG) Receives Average Recommendation of “Moderate Buy” from Analysts

Diamondback Energy, Inc. (NASDAQ:FANGGet Rating) has been assigned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $180.35.

FANG has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on Diamondback Energy from $203.00 to $209.00 and gave the company a “buy” rating in a research note on Friday, November 18th. Johnson Rice upgraded Diamondback Energy from an “accumulate” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Monday, December 5th. MKM Partners lifted their target price on Diamondback Energy to $170.00 in a research report on Tuesday, November 15th. StockNews.com assumed coverage on Diamondback Energy in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Susquehanna Bancshares lifted their target price on Diamondback Energy from $180.00 to $190.00 in a research report on Wednesday, November 9th.

Diamondback Energy Stock Down 1.4 %

Shares of NASDAQ:FANG opened at $147.24 on Wednesday. The stock’s 50-day moving average price is $141.70 and its two-hundred day moving average price is $136.96. The firm has a market cap of $25.91 billion, a price-to-earnings ratio of 6.00, a PEG ratio of 0.28 and a beta of 2.00. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 0.37. Diamondback Energy has a 12-month low of $103.71 and a 12-month high of $168.95.

Diamondback Energy (NASDAQ:FANGGet Rating) last released its quarterly earnings data on Monday, November 7th. The oil and natural gas company reported $6.48 EPS for the quarter, missing analysts’ consensus estimates of $6.51 by ($0.03). The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Diamondback Energy had a return on equity of 28.49% and a net margin of 45.47%. On average, research analysts forecast that Diamondback Energy will post 24.5 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a None dividend, which was paid on Friday, November 25th. Shareholders of record on Thursday, November 17th were paid a dividend of $2.26 per share. This represents a yield of 4.7%. The ex-dividend date of this dividend was Wednesday, November 16th. Diamondback Energy’s payout ratio is currently 12.22%.

Insider Buying and Selling at Diamondback Energy

In other news, VP Matt Zmigrosky sold 2,012 shares of the business’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $136.96, for a total value of $275,563.52. Following the sale, the vice president now owns 23,623 shares of the company’s stock, valued at approximately $3,235,406.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by company insiders.

Institutional Trading of Diamondback Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Atlas Private Wealth Advisors raised its stake in shares of Diamondback Energy by 6.2% in the 2nd quarter. Atlas Private Wealth Advisors now owns 7,229 shares of the oil and natural gas company’s stock worth $876,000 after buying an additional 423 shares in the last quarter. MAI Capital Management raised its position in shares of Diamondback Energy by 13.2% during the second quarter. MAI Capital Management now owns 5,452 shares of the oil and natural gas company’s stock worth $661,000 after purchasing an additional 635 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Diamondback Energy by 1.4% during the third quarter. Daiwa Securities Group Inc. now owns 14,867 shares of the oil and natural gas company’s stock worth $1,791,000 after purchasing an additional 201 shares during the period. Symmetry Partners LLC raised its position in shares of Diamondback Energy by 13.1% during the third quarter. Symmetry Partners LLC now owns 9,456 shares of the oil and natural gas company’s stock worth $1,139,000 after purchasing an additional 1,098 shares during the period. Finally, First Republic Investment Management Inc. raised its position in shares of Diamondback Energy by 12.0% during the second quarter. First Republic Investment Management Inc. now owns 702,275 shares of the oil and natural gas company’s stock worth $85,081,000 after purchasing an additional 75,060 shares during the period. Institutional investors own 89.76% of the company’s stock.

About Diamondback Energy

(Get Rating)

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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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