Diamondback Energy, Inc. (NASDAQ:FANG) Receives $216.09 Average Target Price from Brokerages

Diamondback Energy, Inc. (NASDAQ:FANG) has been given a consensus recommendation of “Moderate Buy” by the twenty-three ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $211.92.

A number of analysts have issued reports on FANG shares. JPMorgan Chase & Co. decreased their target price on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a research report on Thursday. UBS Group lifted their price target on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company reduced their price target on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Raymond James reduced their price target on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research report on Wednesday, March 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd.

Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors have recently bought and sold shares of FANG. Wintrust Investments LLC purchased a new stake in Diamondback Energy during the 4th quarter valued at about $28,000. R Squared Ltd purchased a new stake in Diamondback Energy in the 4th quarter worth approximately $29,000. UMB Bank n.a. lifted its holdings in Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in Diamondback Energy in the 4th quarter worth approximately $33,000. Finally, Key Financial Inc lifted its holdings in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $150.20 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business has a fifty day simple moving average of $162.00 and a two-hundred day simple moving average of $171.53. Diamondback Energy has a 1 year low of $137.09 and a 1 year high of $214.50. The company has a market capitalization of $43.47 billion, a P/E ratio of 8.60, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. On average, analysts expect that Diamondback Energy will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a $1.00 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s dividend payout ratio is presently 25.32%.

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.