Diamondback Energy, Inc. (NASDAQ:FANG) Receives $210.09 Consensus Price Target from Analysts

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have been given an average recommendation of “Moderate Buy” by the twenty-three research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $209.64.

Several research analysts have recently commented on the company. Sanford C. Bernstein reduced their target price on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Citigroup began coverage on Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective for the company. Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Morgan Stanley lifted their price target on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Truist Financial upped their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th.

Insiders Place Their Bets

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Several large investors have recently made changes to their positions in the stock. First Community Trust NA acquired a new stake in Diamondback Energy in the 2nd quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC grew its stake in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the second quarter valued at approximately $40,000. Values First Advisors Inc. bought a new stake in shares of Diamondback Energy in the third quarter worth $42,000. Finally, Founders Capital Management boosted its holdings in Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 1.1 %

Shares of FANG opened at $181.59 on Tuesday. The stock has a 50 day simple moving average of $182.34 and a 200-day simple moving average of $192.55. Diamondback Energy has a 1 year low of $145.70 and a 1 year high of $214.50. The stock has a market cap of $53.52 billion, a PE ratio of 10.42, a PEG ratio of 1.26 and a beta of 1.89. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 17.64%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.49 EPS. On average, sell-side analysts predict that Diamondback Energy will post 17.1 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s payout ratio is presently 20.61%.

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.