Diamondback Energy, Inc. (NASDAQ:FANG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Diamondback Energy, Inc. (NASDAQ:FANG) have earned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $214.17.

A number of brokerages have weighed in on FANG. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a report on Friday, January 3rd. Piper Sandler dropped their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. The Goldman Sachs Group started coverage on Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price for the company. Wells Fargo & Company increased their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Wednesday, November 6th.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FANG. Veracity Capital LLC boosted its stake in shares of Diamondback Energy by 18.1% during the 4th quarter. Veracity Capital LLC now owns 5,192 shares of the oil and natural gas company’s stock worth $851,000 after acquiring an additional 796 shares in the last quarter. Secure Asset Management LLC boosted its position in shares of Diamondback Energy by 16.9% in the 4th quarter. Secure Asset Management LLC now owns 11,185 shares of the oil and natural gas company’s stock valued at $1,832,000 after purchasing an additional 1,613 shares during the period. Wesbanco Bank Inc. increased its stake in Diamondback Energy by 11.9% in the 4th quarter. Wesbanco Bank Inc. now owns 84,765 shares of the oil and natural gas company’s stock worth $13,887,000 after purchasing an additional 9,010 shares in the last quarter. SG Americas Securities LLC raised its holdings in Diamondback Energy by 155.6% during the 4th quarter. SG Americas Securities LLC now owns 43,043 shares of the oil and natural gas company’s stock worth $7,052,000 after buying an additional 26,204 shares during the period. Finally, Park Place Capital Corp lifted its stake in Diamondback Energy by 49.0% during the fourth quarter. Park Place Capital Corp now owns 6,581 shares of the oil and natural gas company’s stock valued at $1,078,000 after buying an additional 2,164 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.6 %

NASDAQ:FANG opened at $180.18 on Friday. The stock has a 50-day simple moving average of $170.60 and a 200 day simple moving average of $183.08. Diamondback Energy has a one year low of $147.93 and a one year high of $214.50. The company has a market capitalization of $52.61 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.49 EPS. Sell-side analysts predict that Diamondback Energy will post 16.08 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 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.