Brokerages Set Diamondback Energy, Inc. (NASDAQ:FANG) PT at $200.96

Diamondback Energy, Inc. (NASDAQ:FANG) has received a consensus recommendation of “Buy” from the twenty-two ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $197.70.

Several equities analysts have issued reports on the company. Williams Trading set a $190.00 price objective on Diamondback Energy in a research report on Wednesday, March 5th. Truist Financial lifted their price target on Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Mizuho increased their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Raymond James dropped their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 12th. Finally, Piper Sandler decreased their price target on shares of Diamondback Energy from $240.00 to $234.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd.

Diamondback Energy Stock Down 2.7 %

Shares of NASDAQ:FANG opened at $133.08 on Tuesday. The company’s fifty day moving average is $142.50 and its 200-day moving average is $160.43. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy has a 52 week low of $114.00 and a 52 week high of $214.50. The company has a market capitalization of $39.14 billion, a PE ratio of 7.62, a P/E/G ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.87. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.50 earnings per share. Equities research analysts predict that Diamondback Energy will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.01%. Diamondback Energy’s payout ratio is 25.32%.

Insider Activity

In related news, Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Diamondback Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at about $1,215,000. Fulcrum Equity Management acquired a new stake in Diamondback Energy in the 3rd quarter valued at approximately $206,000. Pine Valley Investments Ltd Liability Co lifted its stake in Diamondback Energy by 11.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,027 shares of the oil and natural gas company’s stock valued at $349,000 after acquiring an additional 205 shares in the last quarter. World Investment Advisors LLC bought a new stake in Diamondback Energy in the 3rd quarter valued at approximately $3,935,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Diamondback Energy during the 3rd quarter worth approximately $138,000. 90.01% of the stock is owned by institutional investors and hedge funds.

About Diamondback Energy

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.