Oppenheimer reissued their buy rating on shares of Diamondback Energy (NASDAQ:FANG) in a research note released on Tuesday morning.
Several other brokerages have also recently issued reports on FANG. SunTrust Banks restated a buy rating and issued a $170.00 target price on shares of Diamondback Energy in a report on Friday, August 10th. Morgan Stanley set a $171.00 target price on shares of Diamondback Energy and gave the stock a buy rating in a report on Friday, October 12th. Williams Capital upgraded shares of Diamondback Energy from a hold rating to a buy rating and raised their target price for the stock from $165.00 to $167.00 in a report on Monday, August 20th. Capital One Financial restated an overweight rating on shares of Diamondback Energy in a report on Wednesday, August 8th. Finally, Wells Fargo & Co restated an outperform rating and issued a $183.00 target price on shares of Diamondback Energy in a report on Wednesday, October 24th. Four equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $156.45.
Shares of NASDAQ:FANG traded up $3.20 during trading on Tuesday, reaching $113.85. 2,439,640 shares of the stock traded hands, compared to its average volume of 1,797,262. Diamondback Energy has a 52-week low of $105.66 and a 52-week high of $140.78. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.33. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 0.73 and a beta of 0.70.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.15. Diamondback Energy had a net margin of 33.63% and a return on equity of 11.06%. The firm had revenue of $538.03 million for the quarter, compared to analysts’ expectations of $518.32 million. During the same quarter in the prior year, the company posted $1.33 earnings per share. The business’s revenue for the quarter was up 78.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Diamondback Energy will post 6.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Monday, November 19th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $0.50 annualized dividend and a dividend yield of 0.44%. Diamondback Energy’s payout ratio is 9.43%.
In other news, VP Russell Pantermuehl sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total transaction of $255,600.00. Following the sale, the vice president now directly owns 89,532 shares in the company, valued at approximately $11,442,189.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bray Capital Advisors bought a new stake in Diamondback Energy in the 3rd quarter valued at $116,000. First Hawaiian Bank purchased a new position in shares of Diamondback Energy in the 3rd quarter worth $121,000. Captrust Financial Advisors grew its stake in shares of Diamondback Energy by 99.8% in the 2nd quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock worth $131,000 after buying an additional 497 shares in the last quarter. Wedbush Securities Inc. purchased a new position in shares of Diamondback Energy in the 2nd quarter worth $201,000. Finally, Private Advisor Group LLC purchased a new position in shares of Diamondback Energy in the 2nd quarter worth $204,000.
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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