Diamondback Energy (NASDAQ:FANG – Get Free Report) was downgraded by equities researchers at Sanford C. Bernstein from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.
Several other analysts also recently weighed in on the company. Weiss Ratings downgraded Diamondback Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Stifel Nicolaus set a $259.00 price objective on Diamondback Energy in a research note on Tuesday, November 3rd. Wells Fargo & Company decreased their target price on Diamondback Energy from $263.00 to $244.00 and set an “overweight” rating for the company in a report on Wednesday, November 4th. BMO Capital Markets lifted their target price on Diamondback Energy from $215.00 to $224.00 and gave the stock an “outperform” rating in a report on Friday, October 2nd. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Diamondback Energy in a report on Thursday, September 17th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $228.39.
Check Out Our Latest Stock Report on FANG
Diamondback Energy Stock Up 1.6%
NASDAQ:FANG opened at $180.98 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. Diamondback Energy has a twelve month low of $139.41 and a twelve month high of $216.90. The company has a market cap of $50.52 billion, a PE ratio of 24.76 and a beta of 0.49. The company’s 50 day moving average is $194.43 and its two-hundred day moving average is $190.34.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last posted its quarterly earnings data on Monday, November 2nd. The oil and natural gas company reported $5.86 EPS for the quarter, topping the consensus estimate of $5.72 by $0.14. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $4.60 billion. Diamondback Energy had a net margin of 11.03% and a return on equity of 11.86%. The business’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.08 earnings per share. Analysts anticipate that Diamondback Energy will post 22.52 EPS for the current year.
Insider Transactions at Diamondback Energy
In other Diamondback Energy news, Director Travis Stice sold 75,000 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $204.31, for a total value of $15,323,250.00. Following the transaction, the director owned 49,727 shares in the company, valued at approximately $10,159,723.37. This trade represents a 60.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles Meloy sold 33,333 shares of Diamondback Energy stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $183.74, for a total value of $6,124,605.42. Following the transaction, the director owned 759,864 shares in the company, valued at approximately $139,617,411.36. The trade was a 4.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.64% of the company’s stock.
Hedge Funds Weigh In On Diamondback Energy
A number of hedge funds have recently modified their holdings of FANG. BlackRock Inc. acquired a new stake in shares of Diamondback Energy during the second quarter valued at about $3,303,362,000. Wellington Management Group LLP increased its holdings in Diamondback Energy by 31.3% in the 2nd quarter. Wellington Management Group LLP now owns 16,420,247 shares of the oil and natural gas company’s stock valued at $2,886,351,000 after purchasing an additional 3,918,943 shares during the last quarter. State Street Corp raised its position in Diamondback Energy by 4.2% in the second quarter. State Street Corp now owns 12,562,224 shares of the oil and natural gas company’s stock valued at $2,208,188,000 after purchasing an additional 510,281 shares during the period. Bank of New York Mellon Corp purchased a new stake in Diamondback Energy in the second quarter valued at approximately $852,791,000. Finally, Bank of America Corp DE raised its position in Diamondback Energy by 4.5% in the first quarter. Bank of America Corp DE now owns 1,368,069 shares of the oil and natural gas company’s stock valued at $270,590,000 after purchasing an additional 59,023 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.
Recent Diamondback Energy Headlines
Here are a few of the latest headlines about FANG:
- Positive Sentiment: UBS raised its price target to $263 from $260 and maintained a Buy rating. The new target implies about 45% upside from the cited share price, potentially supporting investor sentiment. UBS Group recommendations
- Positive Sentiment: Diamondback raised its quarterly base dividend by 7.3% to $1.18 per share. The increase signals confidence in cash generation, though the cited coverage advises investors to monitor oil prices. Diamondback dividend increase and oil-price considerations
- Negative Sentiment: Commentary questions whether the stock’s valuation is justified after its strong multiyear run, while oil-price fluctuations remain a risk to earnings and investor returns. Diamondback valuation commentary
About Diamondback Energy
Diamondback Energy is an independent oil and natural gas company focused on the development and production of energy resources in the Permian Basin, primarily in West Texas and southeastern New Mexico. Its operations include exploration, drilling and production. The company produces crude oil, natural gas and natural gas liquids. Its activities are concentrated in the Midland and Delaware Basin regions, where it develops oil and gas properties and related reserves. Founded in 2007 and headquartered in Midland, Texas, Diamondback has expanded its Permian Basin operations over time, including through acquisitions.
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