Shares of Diamondback Energy, Inc. (NASDAQ:FANG – Get Free Report) have received an average rating of “Moderate Buy” from the twenty-five analysts that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $222.2105.
A number of brokerages recently weighed in on FANG. Barclays cut their price target on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating on the stock in a report on Monday. Wells Fargo & Company lifted their price objective on shares of Diamondback Energy from $262.00 to $263.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Mizuho boosted their target price on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Roth Capital set a $212.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, Wolfe Research restated an “outperform” rating and set a $206.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 4th.
View Our Latest Stock Analysis on FANG
Diamondback Energy Stock Down 0.1%
Diamondback Energy (NASDAQ:FANG – Get Free Report) last released its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the company posted $2.38 earnings per share. Diamondback Energy’s quarterly revenue was up 51.2% on a year-over-year basis. Research analysts expect that Diamondback Energy will post 19.78 earnings per share for the current fiscal year.
Diamondback Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy’s dividend payout ratio is 85.77%.
Insider Transactions at Diamondback Energy
In other news, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the transaction, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This represents a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. The trade was a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 129,167 shares of company stock valued at $24,714,309. Corporate insiders own 0.64% of the company’s stock.
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. Transamerica Financial Advisors LLC boosted its position in Diamondback Energy by 21.0% during the second quarter. Transamerica Financial Advisors LLC now owns 294 shares of the oil and natural gas company’s stock worth $52,000 after purchasing an additional 51 shares during the period. Capital Advisors Inc. OK increased its stake in shares of Diamondback Energy by 2.9% in the second quarter. Capital Advisors Inc. OK now owns 1,929 shares of the oil and natural gas company’s stock worth $339,000 after purchasing an additional 54 shares in the last quarter. Rehmann Capital Advisory Group raised its position in shares of Diamondback Energy by 4.9% in the second quarter. Rehmann Capital Advisory Group now owns 1,251 shares of the oil and natural gas company’s stock valued at $220,000 after purchasing an additional 59 shares during the period. Deseret Mutual Benefit Administrators raised its position in shares of Diamondback Energy by 31.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock valued at $41,000 after purchasing an additional 66 shares during the period. Finally, Scotia Capital Inc. lifted its stake in shares of Diamondback Energy by 0.3% during the 3rd quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock valued at $2,822,000 after buying an additional 68 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.
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.
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