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

Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) has received an average recommendation of "Buy" from the twenty-two research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $193.35.

A number of analysts have recently commented on FANG shares. Barclays cut their price objective on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Citigroup upgraded Diamondback Energy from a "reduce" rating to a "buy" rating and boosted their price objective for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Morgan Stanley restated an "overweight" rating on shares of Diamondback Energy in a research report on Tuesday. Raymond James Financial restated a "strong-buy" rating on shares of Diamondback Energy in a research report on Thursday, May 22nd. Finally, Truist Financial boosted their price target on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th.

Insider Activity

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president owned 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its holdings in Diamondback Energy by 4.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock worth $5,784,000 after purchasing an additional 1,384 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Diamondback Energy by 6.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock worth $9,409,000 after purchasing an additional 3,467 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in Diamondback Energy by 50.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company's stock worth $1,143,000 after purchasing an additional 2,397 shares during the period. SevenBridge Financial Group LLC increased its holdings in Diamondback Energy by 10.8% during the 4th 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 period. Finally, Headlands Technologies LLC increased its holdings in Diamondback Energy by 49.7% during the 4th quarter. Headlands Technologies LLC now owns 9,816 shares of the oil and natural gas company's stock worth $1,608,000 after purchasing an additional 3,261 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

FANG stock traded down $1.41 during trading on Friday, hitting $136.47. 2,179,531 shares of the company traded hands, compared to its average volume of 2,299,439. The stock's 50-day simple moving average is $141.38 and its 200 day simple moving average is $149.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. The company has a market cap of $39.87 billion, a PE ratio of 8.35 and a beta of 1.05. 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 data on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The business's revenue was up 81.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.50 earnings per share. On average, equities analysts expect that Diamondback Energy will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.93%. Diamondback Energy's dividend payout ratio is presently 24.46%.

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.