TD Securities set a $175.00 target price on Diamondback Energy (NASDAQ:FANG) in a research note released on Saturday. The brokerage currently has a buy rating on the oil and natural gas company’s stock.
Several other brokerages have also weighed in on FANG. BidaskClub lowered shares of Diamondback Energy from a buy rating to a hold rating in a research report on Thursday, July 19th. Stifel Nicolaus set a $166.00 target price on shares of Diamondback Energy and gave the stock a buy rating in a research report on Thursday, July 19th. JPMorgan Chase & Co. upped their target price on shares of Diamondback Energy from $155.00 to $156.00 and gave the stock an overweight rating in a research report on Tuesday, May 1st. Jefferies Financial Group set a $181.00 target price on shares of Diamondback Energy and gave the stock a buy rating in a research report on Thursday, July 19th. Finally, ValuEngine upgraded shares of Diamondback Energy from a hold rating to a buy rating in a research report on Wednesday, June 20th. Three equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $149.88.
NASDAQ FANG traded up $3.65 during trading hours on Friday, hitting $134.80. 1,340,747 shares of the stock were exchanged, compared to its average volume of 885,248. The stock has a market capitalization of $12.93 billion, a P/E ratio of 25.43, a P/E/G ratio of 0.72 and a beta of 0.62. Diamondback Energy has a 12-month low of $85.73 and a 12-month high of $138.25. The company has a quick ratio of 0.52, a current ratio of 0.53 and a debt-to-equity ratio of 0.30.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.05). The firm had revenue of $526.30 million for the quarter, compared to analysts’ expectations of $479.57 million. Diamondback Energy had a return on equity of 10.73% and a net margin of 33.37%. The company’s revenue for the quarter was up 95.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 earnings per share. equities research analysts expect that Diamondback Energy will post 6.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 27th. Stockholders of record on Monday, August 20th will be given a $0.125 dividend. The ex-dividend date is Friday, August 17th. This represents a $0.50 annualized dividend and a dividend yield of 0.37%. Diamondback Energy’s dividend payout ratio is presently 9.43%.
In other news, CFO Teresa L. Dick sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $136.98, for a total value of $342,450.00. Following the sale, the chief financial officer now directly owns 26,647 shares in the company, valued at $3,650,106.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $137.00, for a total transaction of $274,000.00. Following the completion of the sale, the vice president now owns 91,532 shares in the company, valued at $12,539,884. The disclosure for this sale can be found here. Insiders sold 10,332 shares of company stock worth $1,367,579 over the last quarter. Company insiders own 0.57% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FANG. Lord Abbett & CO. LLC lifted its stake in shares of Diamondback Energy by 223.0% during the first quarter. Lord Abbett & CO. LLC now owns 666,299 shares of the oil and natural gas company’s stock valued at $84,300,000 after buying an additional 459,995 shares during the period. Capital Growth Management LP purchased a new position in shares of Diamondback Energy during the first quarter valued at approximately $51,241,000. Arosa Capital Management LP purchased a new position in shares of Diamondback Energy during the first quarter valued at approximately $34,257,000. Legal & General Group Plc raised its stake in Diamondback Energy by 206.8% during the first quarter. Legal & General Group Plc now owns 401,479 shares of the oil and natural gas company’s stock worth $50,795,000 after purchasing an additional 270,607 shares during the period. Finally, BlackRock Inc. raised its stake in Diamondback Energy by 5.5% during the first quarter. BlackRock Inc. now owns 4,993,647 shares of the oil and natural gas company’s stock worth $631,797,000 after purchasing an additional 261,658 shares during the period.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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