Diamondback Energy’s (FANG) Neutral Rating Reiterated at Roth Mkm

Roth Mkm restated their neutral rating on shares of Diamondback Energy (NASDAQ:FANG) in a research note published on Wednesday morning, MarketBeat reports. The brokerage currently has a $200.00 target price on the oil and natural gas company’s stock, up from their prior target price of $180.00.

A number of other analysts have also commented on FANG. Morgan Stanley lifted their price target on Diamondback Energy from $171.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, March 27th. Wall Street Zen lowered Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Raymond James Financial lifted their price target on Diamondback Energy from $210.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Tuesday, March 17th. Freedom Capital upgraded Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, The Goldman Sachs Group lifted their price target on Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Five analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $203.95.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $188.21 on Wednesday. The company has a market cap of $52.94 billion, a PE ratio of 33.55 and a beta of 0.50. Diamondback Energy has a 52 week low of $121.03 and a 52 week high of $204.91. The business has a 50 day moving average price of $180.46 and a 200-day moving average price of $159.53. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 0.32.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, February 23rd. The oil and natural gas company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.26). The company had revenue of $3.38 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the company earned $3.67 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were issued a $1.05 dividend. The ex-dividend date of this dividend was Thursday, March 5th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy’s dividend payout ratio is 74.87%.

Insider Transactions at Diamondback Energy

In other news, EVP Matt Zmigrosky sold 20,899 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $180.00, for a total value of $3,761,820.00. Following the completion of the transaction, the executive vice president directly owned 60,493 shares of the company’s stock, valued at $10,888,740. This trade represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $162.88, for a total value of $162,880,000.00. Following the completion of the transaction, the insider directly owned 98,686,727 shares of the company’s stock, valued at $16,074,094,093.76. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,217,069 shares of company stock valued at $201,213,109. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

Several large investors have recently added to or reduced their stakes in FANG. Commerzbank Aktiengesellschaft FI lifted its stake in Diamondback Energy by 233.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 12,673 shares of the oil and natural gas company’s stock worth $1,814,000 after purchasing an additional 8,877 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Diamondback Energy by 9.6% during 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 purchasing an additional 10,289 shares during the last quarter. Moloney Securities Asset Management LLC bought a new stake in Diamondback Energy during the third quarter worth about $472,000. Massachusetts Financial Services Co. MA lifted its stake 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 worth $198,255,000 after purchasing an additional 122,921 shares during the last quarter. Finally, WoodTrust Financial Corp bought a new stake in Diamondback Energy during the third quarter worth about $1,624,000. Institutional investors own 90.01% of the company’s stock.

About Diamondback Energy

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.