Wells Fargo & Company initiated coverage on shares of Diamondback Energy (NASDAQ:FANG – Get Rating) in a report released on Tuesday morning, The Fly reports. The firm issued an overweight rating on the oil and natural gas company’s stock.
FANG has been the topic of several other reports. Credit Suisse Group upped their price target on shares of Diamondback Energy from $190.00 to $195.00 and gave the company an outperform rating in a research note on Thursday, November 17th. Barclays cut their price objective on shares of Diamondback Energy from $173.00 to $166.00 and set an overweight rating for the company in a research report on Monday. Morgan Stanley cut their price objective on shares of Diamondback Energy from $180.00 to $168.00 and set an overweight rating for the company in a research report on Tuesday. Citigroup upped their price objective on shares of Diamondback Energy from $155.00 to $170.00 in a research report on Tuesday, November 22nd. Finally, Susquehanna upped their price objective on shares of Diamondback Energy from $180.00 to $190.00 in a research report on Wednesday, November 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $180.90.
Diamondback Energy Trading Down 1.4 %
FANG stock opened at $147.24 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.58 and a current ratio of 0.61. The company’s 50-day simple moving average is $141.70 and its 200 day simple moving average is $136.96. Diamondback Energy has a 52 week low of $103.71 and a 52 week high of $168.95. The company has a market capitalization of $25.91 billion, a PE ratio of 6.00, a price-to-earnings-growth ratio of 0.28 and a beta of 2.00.
Diamondback Energy Dividend Announcement
The firm also recently disclosed a None dividend, which was paid on Friday, November 25th. Investors of record on Thursday, November 17th were issued a $2.26 dividend. The ex-dividend date was Wednesday, November 16th. This represents a yield of 4.7%. Diamondback Energy’s dividend payout ratio (DPR) is presently 12.22%.
Insider Activity at Diamondback Energy
In related news, VP Matt Zmigrosky sold 2,012 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $136.96, for a total value of $275,563.52. Following the completion of the transaction, the vice president now owns 23,623 shares in the company, valued at approximately $3,235,406.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.42% of the stock is owned by company insiders.
Institutional Trading of Diamondback Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FANG. AlphaCrest Capital Management LLC increased its position in Diamondback Energy by 6.0% during the 1st quarter. AlphaCrest Capital Management LLC now owns 3,156 shares of the oil and natural gas company’s stock valued at $433,000 after purchasing an additional 178 shares during the period. Raymond James Trust N.A. increased its position in Diamondback Energy by 8.2% during the 1st quarter. Raymond James Trust N.A. now owns 4,932 shares of the oil and natural gas company’s stock valued at $676,000 after purchasing an additional 374 shares during the period. Cibc World Market Inc. increased its position in Diamondback Energy by 13.6% during the 1st quarter. Cibc World Market Inc. now owns 34,403 shares of the oil and natural gas company’s stock valued at $4,716,000 after purchasing an additional 4,129 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Diamondback Energy during the 1st quarter worth approximately $223,000. Finally, Blair William & Co. IL acquired a new stake in shares of Diamondback Energy during the 1st quarter worth approximately $205,000. Institutional investors and hedge funds own 89.76% of the company’s stock.
About Diamondback Energy
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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