Brokerages Set Diamondback Energy, Inc. (NASDAQ:FANG) Target Price at $210.70

Diamondback Energy, Inc. (NASDAQ:FANG) has been assigned an average rating of “Moderate Buy” from the twenty-four research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, seventeen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $210.70.

Several brokerages recently commented on FANG. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. Benchmark reaffirmed a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research report on Wednesday, November 6th. Truist Financial raised their target price on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Raymond James lifted their price target on shares of Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 19th.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $158.34 on Wednesday. The stock has a market cap of $46.23 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 1.21 and a beta of 1.88. The stock has a 50-day moving average of $172.98 and a 200-day moving average of $185.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy has a one year low of $147.93 and a one year high of $214.50.

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 the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.49 EPS. As a group, sell-side analysts expect that Diamondback Energy will post 16.28 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.27%. Diamondback Energy’s payout ratio is 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Institutional Trading of Diamondback Energy

A number of hedge funds have recently made changes to their positions in the business. Carolinas Wealth Consulting LLC lifted its holdings in 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 valued at $27,000 after purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth about $40,000. Values First Advisors Inc. bought a new stake in shares of Diamondback Energy during the 3rd quarter worth about $42,000. CVA Family Office LLC grew its stake in Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after buying an additional 65 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group raised its holdings in Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 136 shares during the period. 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.