Analysts Set Diamondback Energy, Inc. (NASDAQ:FANG) Price Target at $214.17

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have received an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $215.00.

Several brokerages recently issued reports on FANG. Citigroup assumed coverage on shares of Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target on the stock. Susquehanna decreased their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Truist Financial boosted their price objective on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, KeyCorp dropped their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Institutional Trading of Diamondback Energy

Several large investors have recently made changes to their positions in FANG. State Street Corp boosted its holdings in Diamondback Energy by 1.3% in the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after acquiring an additional 149,871 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after purchasing an additional 266,299 shares in the last quarter. Pacer Advisors Inc. grew its position in Diamondback Energy by 9.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock valued at $466,259,000 after purchasing an additional 230,689 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after purchasing an additional 439,579 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in Diamondback Energy by 4.2% during the third quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company’s stock worth $195,714,000 after buying an additional 46,109 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 1.9 %

NASDAQ FANG opened at $173.26 on Friday. The business has a fifty day moving average price of $170.28 and a two-hundred day moving average price of $182.26. The stock has a market capitalization of $50.59 billion, a PE ratio of 9.92, a PEG ratio of 1.44 and a beta of 1.88. Diamondback Energy has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company earned $5.49 earnings per share. Diamondback Energy’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts expect that Diamondback Energy will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.08%. Diamondback Energy’s payout ratio is currently 20.61%.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It 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.