Several other analysts have also recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Diamondback Energy from $147.00 to $154.00 and gave the stock an overweight rating in a research note on Thursday, February 21st. KeyCorp upped their price objective on shares of Diamondback Energy from $116.00 to $124.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. ValuEngine raised shares of Diamondback Energy from a sell rating to a hold rating in a research note on Tuesday, April 23rd. Roth Capital set a $166.00 price objective on shares of Diamondback Energy and gave the stock a buy rating in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. reiterated an overweight rating and set a $148.00 target price on shares of Diamondback Energy in a research report on Monday, March 11th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $160.74.
Shares of Diamondback Energy stock opened at $100.17 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 0.32. The stock has a market cap of $16.17 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 0.59 and a beta of 0.83. Diamondback Energy has a 1-year low of $85.19 and a 1-year high of $140.78.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The firm had revenue of $864.00 million for the quarter, compared to analysts’ expectations of $893.16 million. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The company’s quarterly revenue was up 80.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 earnings per share. As a group, equities analysts anticipate that Diamondback Energy will post 8.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 28th were issued a $0.188 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.13. This represents a $0.75 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, May 24th. Diamondback Energy’s dividend payout ratio is currently 12.78%.
In related news, insider Randall J. Holder sold 4,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $104.13, for a total value of $416,520.00. Following the transaction, the insider now directly owns 14,448 shares in the company, valued at $1,504,470.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Russell Pantermuehl sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total transaction of $560,900.00. Following the completion of the transaction, the vice president now owns 117,107 shares in the company, valued at $13,137,063.26. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Ranger Investment Management L.P. acquired a new stake in Diamondback Energy in the fourth quarter worth $25,000. Berman Capital Advisors LLC grew its position in Diamondback Energy by 180.8% in the first quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 188 shares in the last quarter. Manchester Capital Management LLC bought a new position in Diamondback Energy in the first quarter valued at $34,000. Bronfman E.L. Rothschild L.P. grew its position in Diamondback Energy by 136.7% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 400 shares of the oil and natural gas company’s stock valued at $37,000 after purchasing an additional 231 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its position in Diamondback Energy by 114.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 401 shares of the oil and natural gas company’s stock valued at $37,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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