Diamondback Energy (NASDAQ:FANG) Sets New 52-Week Low - Here's Why

Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report)'s share price reached a new 52-week low on Friday . The stock traded as low as $124.40 and last traded at $127.96, with a volume of 1581622 shares changing hands. The stock had previously closed at $141.28.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FANG shares. Wolfe Research raised Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 target price for the company in a research report on Friday, January 3rd. Barclays decreased their target price on shares of Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. UBS Group boosted their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Williams Trading set a $190.00 price objective on Diamondback Energy in a research report on Wednesday, March 5th. Finally, Mizuho boosted their target price on Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of "Moderate Buy" and an average target price of $210.29.

Diamondback Energy Stock Up 13.1 %

The firm has a market capitalization of $39.05 billion, a PE ratio of 7.72, a P/E/G ratio of 1.24 and a beta of 1.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a 50-day moving average price of $152.93 and a 200 day moving average price of $167.64.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.55 billion. Analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.96%. Diamondback Energy's payout ratio is presently 25.32%.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.48% of the company's stock.

Institutional Trading of Diamondback Energy

A number of large investors have recently made changes to their positions in the business. Wintrust Investments LLC bought a new stake in Diamondback Energy during the fourth quarter worth approximately $28,000. R Squared Ltd bought a new position in shares of Diamondback Energy during the 4th quarter valued at approximately $29,000. UMB Bank n.a. raised its holdings in 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 buying an additional 136 shares during the period. Fourth Dimension Wealth LLC bought a new stake in Diamondback Energy in the fourth quarter worth $33,000. Finally, Key Financial Inc boosted its stake in Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock worth $34,000 after buying an additional 188 shares during the period. 90.01% of the stock is currently owned by institutional investors.

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.