Diamondback Energy, Inc. (NASDAQ:FANG) Receives $218.68 Average PT from Analysts

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have been given an average rating of “Buy” by the twenty-five research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $218.6842.

FANG has been the subject of a number of research reports. Citigroup reduced their target price on shares of Diamondback Energy from $245.00 to $221.00 and set a “buy” rating for the company in a report on Monday, July 20th. Truist Financial dropped their price target on shares of Diamondback Energy from $242.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Weiss Ratings downgraded shares of Diamondback Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Raymond James Financial restated a “strong-buy” rating and issued a $249.00 price objective on shares of Diamondback Energy in a research note on Wednesday, June 10th. Finally, Barclays raised their target price on Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total value of $1,002,700.00. Following the transaction, the executive vice president directly owned 46,392 shares in the company, valued at approximately $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 113,691 shares of company stock worth $21,622,752 over the last ninety days. 0.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators increased its stake in shares of Diamondback Energy by 31.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock worth $41,000 after purchasing an additional 66 shares in the last quarter. Scotia Capital Inc. raised its position in shares of Diamondback Energy by 0.3% during the 3rd quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock valued at $2,822,000 after purchasing an additional 68 shares during the period. Townsend & Associates Inc lifted its stake in shares of Diamondback Energy by 0.5% during the 4th quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock valued at $2,161,000 after buying an additional 75 shares in the last quarter. Capital Financial Group Inc. Co. ADV lifted its stake in shares of Diamondback Energy by 2.1% during the 1st quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock valued at $709,000 after buying an additional 75 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its holdings in Diamondback Energy by 2.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock worth $410,000 after buying an additional 78 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 4.3%

Diamondback Energy stock opened at $195.80 on Thursday. The business has a 50-day simple moving average of $191.22 and a two-hundred day simple moving average of $183.18. The company has a market cap of $55.08 billion, a P/E ratio of 227.68 and a beta of 0.42. Diamondback Energy has a 52-week low of $134.30 and a 52-week high of $214.51. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.49. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.54 EPS. Analysts predict that Diamondback Energy will post 18.9 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $1.10 dividend. The ex-dividend date was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy’s dividend payout ratio (DPR) is currently 511.63%.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.