Diamondback Energy, Inc. (NASDAQ:FANG) Given Consensus Rating of “Moderate Buy” by Analysts

by · The Markets Daily

Shares of Diamondback Energy, Inc. (NASDAQ:FANG – Get Free Report) have received a consensus rating of “Moderate Buy” from the twenty-two research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $209.71.

A number of analysts recently issued reports on the company. KeyCorp began coverage on Diamondback Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective on the stock. Bank of America increased their price target on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Piper Sandler cut their price objective on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Morgan Stanley upped their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group started coverage on shares of Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 price target for the company.

Check Out Our Latest Analysis on Diamondback Energy

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors have recently bought and sold shares of FANG. Price T Rowe Associates Inc. MD lifted its position in Diamondback Energy by 38.2% in the first 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 purchasing an additional 2,381,488 shares during the last quarter. Boston Partners raised its holdings 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 buying an additional 1,916,900 shares during the last quarter. Homestead Advisers Corp bought a new stake in Diamondback Energy during the 1st quarter valued at $87,940,000. Bank of New York Mellon Corp boosted its position in Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after buying an additional 415,902 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Diamondback Energy by 280.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock worth $109,144,000 after acquiring an additional 402,026 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 0.3 %

Shares of NASDAQ FANG opened at $181.00 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a market capitalization of $32.28 billion, a PE ratio of 10.20, a P/E/G ratio of 1.06 and a beta of 1.89. Diamondback Energy has a one year low of $143.08 and a one year high of $214.50. The business’s fifty day moving average price is $192.28 and its 200-day moving average price is $195.57.

Diamondback Energy (NASDAQ:FANG – Get Free Report) last issued its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.68 EPS. On average, equities research analysts anticipate that Diamondback Energy will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $2.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. Diamondback Energy’s payout ratio is currently 20.29%.

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.

Recommended Stories