Brokerages Set Diamondback Energy, Inc. (NASDAQ:FANG) PT at $208.59

Diamondback Energy, Inc. (NASDAQ:FANG) has received a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, seventeen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $208.59.

FANG has been the topic of several research analyst reports. Evercore ISI lowered their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Truist Financial reduced their target price on Diamondback Energy from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Sanford C. Bernstein lowered their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Bank of America lifted their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $205.00 to $215.00 in a research report on Friday, October 4th.

Diamondback Energy Price Performance

FANG opened at $194.96 on Friday. The firm has a market capitalization of $34.77 billion, a P/E ratio of 10.99, a PEG ratio of 1.22 and a beta of 1.89. Diamondback Energy has a 12-month low of $145.70 and a 12-month high of $214.50. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average of $187.20 and a 200-day moving average of $195.26.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 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 company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the firm posted $3.68 earnings per share. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. Equities analysts forecast that Diamondback Energy will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $2.34 dividend. The ex-dividend date was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio is presently 20.29%.

Insiders Place Their Bets

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Diamondback Energy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock worth $3,391,567,000 after purchasing an additional 176,208 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Diamondback Energy by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Diamondback Energy by 16.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after purchasing an additional 415,902 shares during the last quarter. Boston Partners increased its position in shares of Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after buying an additional 1,916,900 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Diamondback Energy by 10.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after buying an additional 247,065 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Company Profile

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.