ValuEngine upgraded shares of Diamondback Energy (NASDAQ:FANG) from a hold rating to a buy rating in a report issued on Wednesday morning.
A number of other equities research analysts have also recently weighed in on FANG. Jefferies Financial Group lifted their price target on Diamondback Energy from $170.00 to $177.00 and gave the company a buy rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on Diamondback Energy from $155.00 to $156.00 and gave the company an overweight rating in a report on Tuesday, May 1st. BidaskClub cut Diamondback Energy from a strong-buy rating to a buy rating in a report on Wednesday, May 30th. Piper Jaffray Companies reaffirmed a buy rating and set a $143.00 price target on shares of Diamondback Energy in a report on Wednesday, April 18th. Finally, Stifel Nicolaus set a $167.00 price target on Diamondback Energy and gave the company a buy rating in a report on Monday, April 23rd. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $143.56.
FANG opened at $125.56 on Wednesday. The company has a market cap of $12.20 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 0.69 and a beta of 0.74. The company has a current ratio of 0.53, a quick ratio of 0.52 and a debt-to-equity ratio of 0.30. Diamondback Energy has a twelve month low of $82.77 and a twelve month high of $138.14.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.05. The company had revenue of $480.20 million for the quarter, compared to analysts’ expectations of $445.78 million. Diamondback Energy had a return on equity of 10.53% and a net margin of 35.09%. The business’s revenue for the quarter was up 104.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 earnings per share. analysts anticipate that Diamondback Energy will post 6.7 earnings per share for the current year.
The firm also recently declared a special dividend, which was paid on Tuesday, May 29th. Shareholders of record on Monday, May 21st were given a $0.125 dividend. The ex-dividend date was Friday, May 18th. Diamondback Energy’s dividend payout ratio (DPR) is 9.43%.
In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 832 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $128.46, for a total value of $106,878.72. Following the transaction, the vice president now owns 6,897 shares in the company, valued at $885,988.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael L. Hollis sold 3,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $118.80, for a total transaction of $356,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,332 shares of company stock worth $1,079,729. 0.57% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Global X Management Co. LLC grew its position in Diamondback Energy by 57.5% in the first quarter. Global X Management Co. LLC now owns 1,320 shares of the oil and natural gas company’s stock worth $167,000 after buying an additional 482 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in Diamondback Energy by 5.2% in the first quarter. Xact Kapitalforvaltning AB now owns 10,121 shares of the oil and natural gas company’s stock worth $1,281,000 after buying an additional 504 shares during the last quarter. Natixis Advisors L.P. grew its position in Diamondback Energy by 5.0% in the first quarter. Natixis Advisors L.P. now owns 13,034 shares of the oil and natural gas company’s stock worth $1,649,000 after buying an additional 623 shares during the last quarter. Lombard Odier Asset Management USA Corp grew its position in Diamondback Energy by 1.0% in the fourth quarter. Lombard Odier Asset Management USA Corp now owns 70,686 shares of the oil and natural gas company’s stock worth $8,924,000 after buying an additional 668 shares during the last quarter. Finally, Boston Private Wealth LLC grew its position in Diamondback Energy by 8.1% in the first quarter. Boston Private Wealth LLC now owns 9,099 shares of the oil and natural gas company’s stock worth $1,151,000 after buying an additional 685 shares during the last quarter.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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