Analysts Set Diamondback Energy, Inc. (NASDAQ:FANG) Price Target at $195.43

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have received a consensus recommendation of “Buy” from the twenty-six analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $194.4762.

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein cut their price objective on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Benchmark cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Truist Financial initiated coverage on shares of Diamondback Energy in a research note on Tuesday. They set a “buy” rating and a $222.00 price target on the stock. Scotiabank set a $175.00 price objective on shares of Diamondback Energy in a research note on Friday, January 16th. Finally, Roth Mkm reiterated a “buy” rating and issued a $180.00 target price on shares of Diamondback Energy in a research report on Tuesday, February 24th.

Insider Buying and Selling

In other Diamondback Energy news, CAO Teresa L. Dick sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $190.00, for a total value of $950,000.00. Following the completion of the sale, the chief accounting officer owned 107,755 shares in the company, valued at approximately $20,473,450. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven E. West sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $188.35, for a total value of $1,130,100.00. Following the sale, the director directly owned 4,484 shares of the company’s stock, valued at approximately $844,561.40. This trade represents a 57.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,209,212 shares of company stock worth $199,689,401 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI raised its position in Diamondback Energy by 233.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 12,673 shares of the oil and natural gas company’s stock worth $1,814,000 after buying an additional 8,877 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Diamondback Energy by 9.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,733 shares of the oil and natural gas company’s stock worth $16,848,000 after acquiring an additional 10,289 shares during the period. Moloney Securities Asset Management LLC purchased a new position in shares of Diamondback Energy during the third quarter valued at approximately $472,000. Massachusetts Financial Services Co. MA lifted its position in Diamondback Energy by 9.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,385,428 shares of the oil and natural gas company’s stock valued at $198,255,000 after purchasing an additional 122,921 shares during the period. Finally, WoodTrust Financial Corp bought a new position in Diamondback Energy during the third quarter valued at approximately $1,624,000. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $202.19 on Friday. The company’s fifty day moving average price is $172.11 and its 200-day moving average price is $155.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.42 and a quick ratio of 0.40. The firm has a market capitalization of $56.88 billion, a price-to-earnings ratio of 36.04 and a beta of 0.59. Diamondback Energy has a one year low of $114.00 and a one year high of $204.16.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.26). The company had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.41 billion. Diamondback Energy had a return on equity of 8.08% and a net margin of 11.07%.The business’s revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.67 earnings per share. On average, equities research analysts anticipate that Diamondback Energy will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were issued a $1.05 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, March 5th. Diamondback Energy’s dividend payout ratio (DPR) is presently 74.87%.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.