Diamondback Energy, Inc. (NASDAQ:FANG) Given Average Recommendation of "Buy" by Brokerages

Shares of Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) have been assigned an average rating of "Buy" from the twenty-two brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, nineteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $199.00.

FANG has been the subject of several research analyst reports. Susquehanna reduced their price objective on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Diamondback Energy in a research note on Tuesday, April 15th. Truist Financial boosted their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Citigroup upgraded shares of Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price target for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Finally, Bank of America raised shares of Diamondback Energy from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $202.00 to $170.00 in a research note on Tuesday.

Diamondback Energy Stock Up 2.1 %

Shares of FANG traded up $2.82 during mid-day trading on Tuesday, hitting $134.83. 2,158,063 shares of the company traded hands, compared to its average volume of 2,099,370. The business has a 50 day moving average of $143.60 and a 200 day moving average of $161.78. The company has a market capitalization of $39.65 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy has a 1-year low of $114.00 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly 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. The business had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Equities research analysts anticipate that Diamondback Energy will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.97%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is presently 25.32%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares of the company's stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FANG. Virtu Financial LLC purchased a new position in Diamondback Energy in the 3rd quarter valued at about $1,215,000. Fulcrum Equity Management acquired a new stake in Diamondback Energy during the third quarter worth approximately $206,000. Pine Valley Investments Ltd Liability Co grew its stake in Diamondback Energy by 11.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,027 shares of the oil and natural gas company's stock worth $349,000 after acquiring an additional 205 shares during the period. World Investment Advisors LLC purchased a new position in shares of Diamondback Energy during the 3rd quarter worth $3,935,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Diamondback Energy during the third quarter worth $138,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

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.