Diamondback Energy, Inc. (NASDAQ:FANG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have been assigned an average recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $211.85.

FANG has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Diamondback Energy in a research note on Tuesday, August 13th. UBS Group lifted their target price on Diamondback Energy from $245.00 to $247.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. KeyCorp began coverage on Diamondback Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $225.00 target price for the company. Piper Sandler decreased their target price on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, Wells Fargo & Company decreased their target price on Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th.

Hedge Funds Weigh In On Diamondback Energy

Large investors have recently added to or reduced their stakes in the company. Founders Capital Management grew its stake in shares of Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares during the last quarter. First Community Trust NA purchased a new stake in shares of Diamondback Energy during the second quarter worth about $26,000. Carolinas Wealth Consulting LLC grew its stake in shares of Diamondback Energy by 67.1% during the second 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 during the last quarter. Logan Capital Management Inc. purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $31,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the second quarter worth about $40,000. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Down 0.1 %

NASDAQ FANG opened at $194.57 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average of $199.11 and a two-hundred day moving average of $195.19. The firm has a market capitalization of $34.70 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 1.06 and a beta of 1.90. Diamondback Energy has a 52 week low of $143.08 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. Diamondback Energy’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.68 earnings per share. On average, analysts predict that Diamondback Energy will post 18.63 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a $2.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. Diamondback Energy’s payout ratio is currently 20.29%.

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.