Diamondback Energy Inc (NASDAQ:FANG) reached a new 52-week low during trading on Thursday . The company traded as low as $96.95 and last traded at $99.40, with a volume of 182586 shares. The stock had previously closed at $105.08.
A number of equities research analysts have recently commented on FANG shares. Piper Jaffray Companies reiterated an “overweight” rating on shares of Diamondback Energy in a research note on Friday, September 28th. Oppenheimer started coverage on Diamondback Energy in a research note on Wednesday, October 3rd. They set an “outperform” rating and a $166.00 target price on the stock. Williams Capital set a $171.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Morgan Stanley lifted their target price on Diamondback Energy from $164.00 to $168.00 and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Finally, BidaskClub upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. Five research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $160.27.
The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 1.08. The firm has a market capitalization of $10.31 billion, a P/E ratio of 19.38, a PEG ratio of 0.58 and a beta of 0.72.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.15. Diamondback Energy had a return on equity of 10.75% and a net margin of 33.63%. The company had revenue of $538.03 million during the quarter, compared to analyst estimates of $518.32 million. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Diamondback Energy’s revenue was up 78.6% on a year-over-year basis. On average, analysts anticipate that Diamondback Energy Inc will post 6.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Monday, November 19th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, November 16th. Diamondback Energy’s payout ratio is 9.43%.
In other news, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total transaction of $255,600.00. Following the completion of the transaction, the vice president now owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Captrust Financial Advisors grew its holdings in shares of Diamondback Energy by 99.8% during the second quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock worth $131,000 after purchasing an additional 497 shares in the last quarter. LPL Financial LLC boosted its stake in Diamondback Energy by 4.2% in the third quarter. LPL Financial LLC now owns 12,490 shares of the oil and natural gas company’s stock worth $1,689,000 after buying an additional 506 shares in the last quarter. CWM LLC boosted its stake in Diamondback Energy by 5.8% in the third quarter. CWM LLC now owns 9,443 shares of the oil and natural gas company’s stock worth $1,277,000 after buying an additional 520 shares in the last quarter. Capital Analysts LLC boosted its stake in Diamondback Energy by 5.9% in the third quarter. Capital Analysts LLC now owns 10,307 shares of the oil and natural gas company’s stock worth $1,394,000 after buying an additional 574 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Diamondback Energy by 93.5% in the third quarter. Tower Research Capital LLC TRC now owns 1,217 shares of the oil and natural gas company’s stock worth $165,000 after buying an additional 588 shares in the last quarter.
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About Diamondback Energy (NASDAQ:FANG)
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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