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

Diamondback Energy, Inc. (NASDAQ:FANG) has been given a consensus rating of “Moderate Buy” by the twenty-four analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $210.70.

A number of analysts recently weighed in on the company. Citigroup assumed coverage on Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective for the company. Morgan Stanley raised their price objective on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group began coverage on Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 target price on the stock. Raymond James raised their price target on shares of Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 19th. Finally, Susquehanna dropped their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $158.34 on Wednesday. The business’s 50-day moving average price is $172.98 and its 200-day moving average price is $185.41. Diamondback Energy has a 12 month low of $147.93 and a 12 month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $46.23 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 1.21 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.49 earnings per share. Equities research analysts forecast that Diamondback Energy will post 16.28 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.27%. Diamondback Energy’s payout ratio is 20.61%.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Several large investors have recently bought and sold shares of the stock. Carolinas Wealth Consulting LLC grew its stake in shares of Diamondback Energy by 67.1% in 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 purchased a new stake in Diamondback Energy in the 2nd quarter valued at about $40,000. Values First Advisors Inc. bought a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $42,000. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of 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 worth $52,000 after buying an additional 136 shares during the last quarter. Finally, CVA Family Office LLC grew its holdings in shares of Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after acquiring an additional 65 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

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.