Diamondback Energy, Inc. (NASDAQ:FANG) has been assigned an average rating of “Buy” from the thirty-two analysts that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, twenty-two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $85.70.
A number of analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Diamondback Energy from $103.00 to $107.00 and gave the stock an “overweight” rating in a report on Monday, April 26th. TheStreet raised shares of Diamondback Energy from a “d+” rating to a “c-” rating in a report on Friday, March 12th. Evercore ISI assumed coverage on shares of Diamondback Energy in a report on Wednesday, April 7th. They set an “outperform” rating for the company. Johnson Rice lowered shares of Diamondback Energy from an “accumulate” rating to a “hold” rating in a report on Tuesday, March 9th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of Diamondback Energy from $82.00 to $100.00 in a report on Tuesday, March 23rd.
FANG stock traded up $2.50 during trading on Monday, hitting $78.70. The company had a trading volume of 2,573,860 shares, compared to its average volume of 2,927,559. The company has a quick ratio of 0.43, a current ratio of 0.45 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $78.34 and a 200-day moving average price of $60.98. Diamondback Energy has a 12 month low of $23.63 and a 12 month high of $88.75. The stock has a market cap of $14.24 billion, a price-to-earnings ratio of -2.92, a PEG ratio of 0.59 and a beta of 2.59.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 20th. Shareholders of record on Thursday, May 13th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, May 12th. This represents a $1.60 annualized dividend and a yield of 2.03%. Diamondback Energy’s dividend payout ratio (DPR) is presently 23.09%.
In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 1,900 shares of the business’s stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $77.24, for a total transaction of $146,756.00. Following the sale, the chief financial officer now directly owns 67,043 shares of the company’s stock, valued at approximately $5,178,401.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Travis D. Stice sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $1,700,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,900 shares of company stock worth $3,546,756 over the last three months. Insiders own 0.47% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Contravisory Investment Management Inc. bought a new stake in shares of Diamondback Energy in the 1st quarter valued at about $26,000. Whittier Trust Co. raised its holdings in shares of Diamondback Energy by 63.9% in the 1st quarter. Whittier Trust Co. now owns 395 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 154 shares during the period. First Horizon Corp raised its holdings in shares of Diamondback Energy by 241.3% in the 1st quarter. First Horizon Corp now owns 512 shares of the oil and natural gas company’s stock valued at $37,000 after purchasing an additional 362 shares during the period. Vantage Consulting Group Inc bought a new stake in shares of Diamondback Energy in the 4th quarter valued at about $26,000. Finally, Bessemer Group Inc. raised its holdings in shares of Diamondback Energy by 31.0% in the 1st quarter. Bessemer Group Inc. now owns 579 shares of the oil and natural gas company’s stock valued at $43,000 after purchasing an additional 137 shares during the period. 92.14% of the stock is currently owned by institutional investors.
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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