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

Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) has been given an average rating of "Buy" by the twenty-two research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $193.13.

Several equities analysts have commented on FANG shares. Evercore ISI began coverage on shares of Diamondback Energy in a research report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 target price on the stock. Bank of America increased their price target on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Piper Sandler reduced their price objective on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and raised their target price for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Finally, Barclays cut their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. This represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.48% of the company's stock.

Institutional Investors Weigh In On Diamondback Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. increased its stake in Diamondback Energy by 38.4% in the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock worth $1,913,000 after acquiring an additional 3,238 shares during the last quarter. Candriam S.C.A. grew its holdings in shares of Diamondback Energy by 27.4% during the fourth quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company's stock worth $3,447,000 after purchasing an additional 4,529 shares in the last quarter. SevenBridge Financial Group LLC increased its position in shares of Diamondback Energy by 10.8% in the fourth quarter. SevenBridge Financial Group LLC now owns 20,388 shares of the oil and natural gas company's stock worth $3,303,000 after purchasing an additional 1,990 shares during the last quarter. Tower Bridge Advisors raised its stake in Diamondback Energy by 27.4% in the fourth quarter. Tower Bridge Advisors now owns 8,828 shares of the oil and natural gas company's stock valued at $1,446,000 after purchasing an additional 1,898 shares in the last quarter. Finally, Boothe Investment Group Inc. raised its stake in Diamondback Energy by 33.3% in the fourth quarter. Boothe Investment Group Inc. now owns 20,097 shares of the oil and natural gas company's stock valued at $3,292,000 after purchasing an additional 5,022 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Trading Up 1.3%

NASDAQ FANG opened at $152.93 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $137.99 and a 200 day simple moving average of $152.15. Diamondback Energy has a 12 month low of $114.00 and a 12 month high of $214.50. The firm has a market capitalization of $44.68 billion, a P/E ratio of 9.35, a PEG ratio of 1.37 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the prior year, the business posted $4.50 EPS. The business's revenue was up 81.8% compared to the same quarter last year. On average, analysts predict that Diamondback Energy will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.62%. Diamondback Energy's dividend payout ratio (DPR) is 24.46%.

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.

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