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

Diamondback Energy, Inc. (NASDAQ:FANG) has earned an average recommendation of “Buy” from the twenty-seven analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $122.52.

Several brokerages recently weighed in on FANG. Truist increased their target price on Diamondback Energy from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday. Scotiabank lowered Diamondback Energy from a “sector outperform” rating to a “sector perform” rating and set a $125.00 price target for the company. in a research report on Wednesday, November 17th. They noted that the move was a valuation call. KeyCorp upped their price target on Diamondback Energy from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Securities upped their price target on Diamondback Energy from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Friday. Finally, Piper Sandler upped their price target on Diamondback Energy from $112.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday, October 21st.

Shares of FANG stock opened at $129.21 on Friday. The stock has a market capitalization of $23.41 billion, a PE ratio of 67.30, a P/E/G ratio of 0.33 and a beta of 2.52. Diamondback Energy has a 1-year low of $56.13 and a 1-year high of $129.34. The business has a 50-day moving average of $110.85 and a 200 day moving average of $96.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.71.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Sunday, October 31st. The oil and natural gas company reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.13. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Diamondback Energy had a return on equity of 12.95% and a net margin of 7.95%. Diamondback Energy’s quarterly revenue was up 165.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 EPS. Analysts anticipate that Diamondback Energy will post 11.22 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 18th. Investors of record on Thursday, November 11th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, November 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.55%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.45. Diamondback Energy’s dividend payout ratio is presently 104.17%.

In related news, CAO Teresa L. Dick sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $114.51, for a total value of $286,275.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Daniel N. Wesson sold 2,400 shares of the stock in a transaction on Wednesday, December 1st. The shares were sold at an average price of $108.48, for a total value of $260,352.00. The disclosure for this sale can be found here. Insiders sold a total of 33,900 shares of company stock worth $3,888,757 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dark Forest Capital Management LP purchased a new position in shares of Diamondback Energy in the 3rd quarter worth $26,000. Harbor Investment Advisory LLC purchased a new position in shares of Diamondback Energy in the 4th quarter worth $35,000. Huntington National Bank boosted its stake in shares of Diamondback Energy by 52.1% in the 3rd quarter. Huntington National Bank now owns 321 shares of the oil and natural gas company’s stock worth $30,000 after buying an additional 110 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of Diamondback Energy by 93.2% in the 3rd quarter. Whittier Trust Co. now owns 485 shares of the oil and natural gas company’s stock worth $46,000 after buying an additional 234 shares during the last quarter. Finally, Crestmont Private Wealth LLC purchased a new position in shares of Diamondback Energy in the 4th quarter worth $56,000. Institutional investors and hedge funds own 87.49% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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