Free Trial

StockNews.com Downgrades Diamondback Energy (NASDAQ:FANG) to Hold

Diamondback Energy logo with Oils/Energy background

Diamondback Energy (NASDAQ:FANG - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a report released on Wednesday.

A number of other equities research analysts have also recently issued reports on FANG. Stifel Nicolaus boosted their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a "buy" rating in a report on Tuesday, April 23rd. Evercore ISI boosted their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, March 25th. Truist Financial boosted their target price on shares of Diamondback Energy from $248.00 to $250.00 and gave the company a "buy" rating in a report on Monday, April 22nd. KeyCorp boosted their target price on shares of Diamondback Energy from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Monday, April 22nd. Finally, Bank of America reissued a "neutral" rating and set a $201.00 target price on shares of Diamondback Energy in a report on Friday, June 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $209.35.


Get Our Latest Research Report on Diamondback Energy

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded up $1.31 during mid-day trading on Wednesday, reaching $188.87. The company had a trading volume of 1,124,380 shares, compared to its average volume of 1,246,209. 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 cap of $33.68 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.02 and a beta of 1.90. The company's 50-day moving average price is $197.76 and its 200-day moving average price is $179.18. Diamondback Energy has a one year low of $123.41 and a one year high of $211.96.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping analysts' consensus estimates of $4.29 by $0.21. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. Diamondback Energy's revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.10 EPS. As a group, equities research analysts anticipate that Diamondback Energy will post 19.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company's stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the business's stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total value of $1,182,840.00. Following the completion of the sale, the chief operating officer now directly owns 69,677 shares of the company's stock, valued at $13,736,123.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 446,610 shares of the company's stock, valued at $89,322,000. The disclosure for this sale can be found here. Insiders sold 41,900 shares of company stock valued at $8,332,450 over the last three months. Insiders own 0.48% of the company's stock.

Institutional Trading of Diamondback Energy

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Diamondback Energy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company's stock worth $3,391,567,000 after purchasing an additional 176,208 shares during the period. Wellington Management Group LLP lifted its position in Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company's stock valued at $2,209,617,000 after acquiring an additional 648,317 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Diamondback Energy by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company's stock valued at $1,706,076,000 after acquiring an additional 2,381,488 shares during the period. Morgan Stanley lifted its position in Diamondback Energy by 2.6% during the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company's stock valued at $541,175,000 after acquiring an additional 89,663 shares during the period. Finally, Boston Partners lifted its position in Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company's stock valued at $541,844,000 after acquiring an additional 1,916,900 shares during the period. 90.01% of the stock is owned by institutional investors.

About Diamondback Energy

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should you invest $1,000 in Diamondback Energy right now?

Before you consider Diamondback Energy, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Diamondback Energy wasn't on the list.

While Diamondback Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Beginner's Guide to Pot Stock Investing Cover

Click the link below and we'll send you MarketBeat's guide to pot stock investing and which pot companies show the most promise.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

CPI News Breakdown: Key Market Moves to Follow
Understanding Oversold Stocks
Inside Pelosi’s Latest Stock Moves

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines