Diamondback Energy, Inc. (NASDAQ:FANG) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Diamondback Energy, Inc. has received a consensus rating of "Buy" from 21 research firms, with 18 analysts assigning a buy rating and 2 giving a strong buy score.
• The company's average 1-year price target from brokerages is $191.59, with target price adjustments ranging between $165.00 and $242.00 by various analysts.
• Diamondback Energy announced a quarterly dividend of $1.00 per share, yielding approximately 2.8%, with a dividend payout ratio of 24.46%.

Shares of Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) have been given a consensus rating of "Buy" by the twenty-one research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $191.5909.

Several brokerages have commented on FANG. Evercore ISI initiated 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 for the company. Susquehanna dropped their price objective on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Wells Fargo & Company increased their target price on Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. KeyCorp decreased their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Truist Financial upped their price target on Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research note on Thursday, April 17th.

Insider Activity

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president directly owned 120,645 shares of the company's stock, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of FANG. BankPlus Trust Department bought a new position in shares of Diamondback Energy during the 1st quarter worth approximately $27,000. Creekmur Asset Management LLC acquired a new position in Diamondback Energy during the second quarter worth $28,000. Pinnacle Bancorp Inc. grew its position in Diamondback Energy by 95.7% in the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. SouthState Corp grew its position in Diamondback Energy by 596.4% in the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock valued at $31,000 after purchasing an additional 167 shares in the last quarter. Finally, Grove Bank & Trust increased its stake in Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock valued at $32,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $144.36 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. Diamondback Energy has a 1-year low of $114.00 and a 1-year high of $202.87. The stock has a market capitalization of $42.18 billion, a P/E ratio of 10.26 and a beta of 1.09. The business has a 50-day moving average price of $143.46 and a two-hundred day moving average price of $146.45.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period last year, the firm earned $4.52 earnings per share. The company's quarterly revenue was up 48.1% on a year-over-year basis. Equities analysts predict that Diamondback Energy will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, August 14th. Diamondback Energy's dividend payout ratio 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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