Williams Capital set a $171.00 target price on Diamondback Energy (NASDAQ:FANG) in a research note issued to investors on Wednesday morning. The firm currently has a buy rating on the oil and natural gas company’s stock.
Several other research firms have also weighed in on FANG. Oppenheimer initiated coverage on Diamondback Energy in a report on Wednesday, October 3rd. They set an outperform rating and a $166.00 target price on the stock. BidaskClub raised Diamondback Energy from a buy rating to a strong-buy rating in a research note on Friday, October 5th. Piper Jaffray Companies reissued an overweight rating on shares of Diamondback Energy in a research note on Friday, September 28th. TD Securities set a $175.00 price target on Diamondback Energy and gave the company a buy rating in a research note on Saturday, August 11th. Finally, ValuEngine raised Diamondback Energy from a hold rating to a buy rating in a research note on Wednesday, September 26th. Four investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $156.45.
FANG stock traded up $3.20 during midday trading on Wednesday, hitting $113.85. 2,439,640 shares of the company’s stock were exchanged, compared to its average volume of 1,797,262. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. The firm has a market cap of $11.43 billion, a PE ratio of 21.48, a P/E/G ratio of 0.73 and a beta of 0.70. Diamondback Energy has a one year low of $105.66 and a one year high of $140.78.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.15. The firm had revenue of $538.03 million for the quarter, compared to analyst estimates of $518.32 million. Diamondback Energy had a return on equity of 11.06% and a net margin of 33.63%. The company’s revenue for the quarter was up 78.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 earnings per share. On average, analysts forecast that Diamondback Energy will post 6.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Monday, November 19th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, November 16th. Diamondback Energy’s dividend payout ratio is currently 9.43%.
In related news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total value of $255,600.00. Following the sale, the vice president now owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in FANG. JPMorgan Chase & Co. increased its position in Diamondback Energy by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 7,478,957 shares of the oil and natural gas company’s stock worth $1,011,079,000 after buying an additional 984,124 shares during the last quarter. Third Point LLC acquired a new position in Diamondback Energy during the third quarter worth approximately $67,595,000. BlueMountain Capital Management LLC acquired a new position in Diamondback Energy during the second quarter worth approximately $64,179,000. FIL Ltd increased its position in Diamondback Energy by 172.9% during the third quarter. FIL Ltd now owns 675,696 shares of the oil and natural gas company’s stock worth $91,348,000 after buying an additional 428,130 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Diamondback Energy by 40.4% during the second quarter. Bank of America Corp DE now owns 926,005 shares of the oil and natural gas company’s stock worth $121,835,000 after buying an additional 266,321 shares during the last quarter.
Diamondback Energy Company Profile
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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