Diamondback Energy, Inc. (NASDAQ:FANG) Receives $205.95 Average Target Price from Brokerages

Shares of Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) have received an average rating of "Moderate Buy" from the nineteen analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $205.95.

A number of research firms have commented on FANG. Bank of America raised shares of Diamondback Energy from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $129.00 to $170.00 in a research note on Monday, February 12th. Bank Of America (Bofa) dropped their price target on Diamondback Energy from $147.00 to $129.00 and set an "underperform" rating on the stock in a research note on Thursday, January 18th. Piper Sandler increased their price objective on Diamondback Energy from $227.00 to $247.00 and gave the company an "overweight" rating in a report on Friday, April 19th. Stifel Nicolaus lifted their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock a "buy" rating in a report on Tuesday, April 23rd. Finally, Evercore ISI lifted their price target on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, March 25th.

Diamondback Energy Stock Performance

FANG traded down $2.72 during trading hours on Tuesday, hitting $198.05. The company's stock had a trading volume of 1,474,580 shares, compared to its average volume of 1,722,250. Diamondback Energy has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $35.32 billion, a PE ratio of 11.16 and a beta of 1.91. The company has a 50-day simple moving average of $198.22 and a 200 day simple moving average of $172.44.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating analysts' consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the firm posted $4.10 earnings per share. The firm's revenue was up 15.7% on a year-over-year basis. As a group, sell-side analysts expect that Diamondback Energy will post 18.98 EPS for the current year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.82%. Diamondback Energy's dividend payout ratio (DPR) is currently 20.29%.

Insider Activity

In related news, CEO Travis D. Stice sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares of the company's stock, valued at approximately $89,322,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the sale, the chief operating officer now directly owns 78,218 shares in the company, valued at approximately $15,031,153.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Travis D. Stice sold 30,000 shares of the business's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares of the company's stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,575 shares of company stock worth $11,491,006. Insiders own 0.43% of the company's stock.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Founders Capital Management increased its position in Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company's stock valued at $25,000 after acquiring an additional 101 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at about $27,000. Logan Capital Management Inc. bought a new position in shares of Diamondback Energy in the 4th quarter worth approximately $31,000. Turtle Creek Wealth Advisors LLC bought a new stake in Diamondback Energy during the fourth quarter valued at approximately $34,000. Finally, CVA Family Office LLC purchased a new position in shares of Diamondback Energy during the 4th quarter worth $35,000. 90.01% of the stock is currently owned by hedge funds and other 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.