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

Shares of Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) have received a consensus recommendation of "Buy" from the twenty-two brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $193.09.

Several brokerages have weighed in on FANG. Susquehanna dropped their price objective on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Raymond James restated a "strong-buy" rating on shares of Diamondback Energy in a report on Thursday, May 22nd. Barclays decreased their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Piper Sandler decreased their price target on shares of Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada began coverage on Diamondback Energy in a report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price target for the company.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction that occurred 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 completion of the sale, the president now directly owns 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Diamondback Energy

Several hedge funds have recently bought and sold shares of FANG. Merit Financial Group LLC increased its position in Diamondback Energy by 18.0% during the 4th quarter. Merit Financial Group LLC now owns 2,315 shares of the oil and natural gas company's stock valued at $379,000 after buying an additional 353 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after acquiring an additional 136 shares during the last quarter. Simon Quick Advisors LLC acquired a new position in shares of Diamondback Energy during the 4th quarter valued at about $202,000. SG Americas Securities LLC increased its stake in Diamondback Energy by 155.6% during the fourth quarter. SG Americas Securities LLC now owns 43,043 shares of the oil and natural gas company's stock worth $7,052,000 after acquiring an additional 26,204 shares during the last quarter. Finally, Secure Asset Management LLC increased its stake in Diamondback Energy by 16.9% during the fourth quarter. Secure Asset Management LLC now owns 11,185 shares of the oil and natural gas company's stock worth $1,832,000 after acquiring an additional 1,613 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded up $0.64 on Friday, hitting $136.92. 392,698 shares of the company were exchanged, compared to its average volume of 2,147,603. The company's 50 day moving average price is $138.66 and its two-hundred day moving average price is $155.81. Diamondback Energy has a one year low of $114.00 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market capitalization of $40.00 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the previous year, the company earned $4.50 EPS. The firm's revenue for the quarter was up 81.8% compared to the same quarter last year. Research analysts expect that Diamondback Energy will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.92%. Diamondback Energy's dividend payout ratio (DPR) 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.