Recent Research Analysts’ Ratings Updates for Diamondback Energy (FANG)

A number of firms have modified their ratings and price targets on shares of Diamondback Energy (NASDAQ: FANG) recently:

• 10/4/2024 – Diamondback Energy was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $215.00 price target on the stock, up previously from $205.00.
• 10/3/2024 – Diamondback Energy had its price target raised by analysts at Benchmark Co. from $154.00 to $195.00. They now have a “buy” rating on the stock.
• 10/2/2024 – Diamondback Energy is now covered by analysts at JPMorgan Chase & Co.. They set an “overweight” rating and a $182.00 price target on the stock.
• 10/2/2024 – Diamondback Energy was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $210.00 price target on the stock, down previously from $216.00.
• 10/1/2024 – Diamondback Energy had its price target lowered by analysts at Wells Fargo & Company from $230.00 to $219.00. They now have an “overweight” rating on the stock.
• 9/30/2024 – Diamondback Energy had its price target lowered by analysts at Evercore ISI from $235.00 to $209.00. They now have an “outperform” rating on the stock.
• 9/30/2024 – Diamondback Energy had its price target lowered by analysts at Truist Financial Co. from $255.00 to $220.00. They now have a “buy” rating on the stock.
• 9/24/2024 – Diamondback Energy was downgraded by analysts at Johnson Rice from a “strong-buy” rating to a “moderate buy” rating.
• 9/18/2024 – Diamondback Energy had its price target lowered by analysts at UBS Group AG from $247.00 to $223.00. They now have a “buy” rating on the stock.
• 9/17/2024 – Diamondback Energy had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $220.00 price target on the stock.
• 9/16/2024 – Diamondback Energy had its price target raised by analysts at Morgan Stanley from $185.00 to $198.00. They now have an “overweight” rating on the stock.
• 9/16/2024 – Diamondback Energy is now covered by analysts at Jefferies Financial Group Inc.. They set a “hold” rating and a $185.00 price target on the stock.
• 9/4/2024 – Diamondback Energy had its price target lowered by analysts at Susquehanna from $245.00 to $237.00. They now have a “positive” rating on the stock.
• 8/20/2024 – Diamondback Energy had its price target raised by analysts at UBS Group AG from $245.00 to $247.00. They now have a “buy” rating on the stock.
• 8/15/2024 – Diamondback Energy had its price target lowered by analysts at Piper Sandler from $249.00 to $240.00. They now have an “overweight” rating on the stock.
• 8/14/2024 – Diamondback Energy had its price target lowered by analysts at Wells Fargo & Company from $231.00 to $230.00. They now have an “overweight” rating on the stock.
• 8/13/2024 – Diamondback Energy had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $220.00 price target on the stock.
• 8/13/2024 – Diamondback Energy had its price target lowered by analysts at UBS Group AG from $257.00 to $245.00. They now have a “buy” rating on the stock.
• 8/7/2024 – Diamondback Energy had its price target raised by analysts at Barclays PLC from $214.00 to $216.00. They now have an “equal weight” rating on the stock.
• 8/7/2024 – Diamondback Energy had its price target raised by analysts at Truist Financial Co. from $249.00 to $255.00. They now have a “buy” rating on the stock.
• 8/6/2024 – Diamondback Energy had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $154.00 price target on the stock.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG traded up $6.31 during midday trading on Friday, hitting $194.61. The company’s stock had a trading volume of 3,491,199 shares, compared to its average volume of 1,674,807. The business’s 50 day simple moving average is $187.52 and its 200 day simple moving average is $195.20. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The company has a market cap of $34.71 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period last year, the business earned $3.68 earnings per share. Diamondback Energy’s revenue was up 29.4% compared to the same quarter last year. On average, analysts forecast that Diamondback Energy, Inc. will post 18.97 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a dividend of $2.34 per share. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The shares were 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Park Avenue Securities LLC lifted its stake in Diamondback Energy by 8.0% in the third quarter. Park Avenue Securities LLC now owns 5,740 shares of the oil and natural gas company’s stock worth $990,000 after acquiring an additional 427 shares during the last quarter. Czech National Bank lifted its stake in Diamondback Energy by 12.3% in the third quarter. Czech National Bank now owns 38,166 shares of the oil and natural gas company’s stock worth $6,580,000 after acquiring an additional 4,180 shares during the last quarter. Park National Corp OH lifted its stake in Diamondback Energy by 107.2% in the third quarter. Park National Corp OH now owns 40,701 shares of the oil and natural gas company’s stock worth $7,017,000 after acquiring an additional 21,055 shares during the last quarter. Mattson Financial Services LLC purchased a new position in Diamondback Energy in the second quarter worth approximately $74,000. Finally, Centaurus Financial Inc. lifted its stake in Diamondback Energy by 52.2% in the second quarter. Centaurus Financial Inc. now owns 1,513 shares of the oil and natural gas company’s stock worth $303,000 after acquiring an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.