KLR Group reissued their buy rating on shares of Diamondback Energy (NASDAQ:FANG) in a report issued on Monday. They currently have a $211.00 price objective on the oil and natural gas company’s stock.
Several other equities analysts have also recently commented on the stock. Williams Capital upgraded shares of Diamondback Energy from a hold rating to a buy rating and boosted their price target for the company from $165.00 to $167.00 in a report on Monday. BMO Capital Markets restated a hold rating and set a $135.00 price target on shares of Diamondback Energy in a report on Friday. SunTrust Banks set a $175.00 price target on shares of Diamondback Energy and gave the company a buy rating in a report on Thursday, August 16th. Morgan Stanley lowered their price target on shares of Diamondback Energy from $176.00 to $164.00 and set an overweight rating on the stock in a report on Thursday, August 16th. Finally, Northland Securities set a $175.00 price target on shares of Diamondback Energy and gave the company a buy rating in a report on Thursday, August 16th. Five investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Diamondback Energy currently has an average rating of Buy and an average target price of $154.18.
Diamondback Energy stock opened at $120.99 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.54. Diamondback Energy has a 12 month low of $86.43 and a 12 month high of $138.25. The firm has a market cap of $11.85 billion, a PE ratio of 19.64, a P/E/G ratio of 0.72 and a beta of 0.62.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.05). Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. The company had revenue of $526.30 million for the quarter, compared to analysts’ expectations of $479.57 million. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The company’s revenue was up 95.4% on a year-over-year basis. equities analysts expect that Diamondback Energy will post 6.6 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 27th. Shareholders of record on Monday, August 20th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, August 17th. Diamondback Energy’s dividend payout ratio is 9.43%.
In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 832 shares of the business’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $128.46, for a total transaction of $106,878.72. Following the completion of the transaction, the vice president now owns 6,897 shares of the company’s stock, valued at approximately $885,988.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael L. Hollis sold 5,000 shares of the business’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $128.85, for a total transaction of $644,250.00. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Next Century Growth Investors LLC acquired a new position in Diamondback Energy during the 1st quarter worth $121,000. Captrust Financial Advisors raised its position in shares of Diamondback Energy by 99.8% during the second quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock valued at $131,000 after buying an additional 497 shares during the last quarter. ClariVest Asset Management LLC raised its position in shares of Diamondback Energy by 14,557.1% during the first quarter. ClariVest Asset Management LLC now owns 1,026 shares of the oil and natural gas company’s stock valued at $130,000 after buying an additional 1,019 shares during the last quarter. Signaturefd LLC acquired a new position in shares of Diamondback Energy during the first quarter valued at about $132,000. Finally, Zions Bancorporation acquired a new position in shares of Diamondback Energy during the first quarter valued at about $136,000. 96.46% of the stock is owned by hedge funds and other institutional investors.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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