Several other brokerages also recently issued reports on FANG. Truist Securities increased their price objective on Diamondback Energy from $115.00 to $126.00 and gave the stock a buy rating in a research note on Thursday, July 1st. Scotiabank raised Diamondback Energy from a sector perform rating to a sector outperform rating and increased their price objective for the stock from $86.00 to $95.00 in a research note on Friday, May 21st. Capital One Financial reissued an overweight rating on shares of Diamondback Energy in a research note on Wednesday, May 26th. Morgan Stanley reduced their price objective on Diamondback Energy from $114.00 to $111.00 and set an overweight rating for the company in a research note on Monday, August 23rd. Finally, Mizuho reduced their price objective on Diamondback Energy from $131.00 to $126.00 and set a buy rating for the company in a research note on Friday, August 13th. Three investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $98.52.
NASDAQ:FANG opened at $75.68 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.62. Diamondback Energy has a 1-year low of $23.63 and a 1-year high of $102.53. The firm has a market capitalization of $13.70 billion, a price-to-earnings ratio of -8.71, a price-to-earnings-growth ratio of 0.34 and a beta of 2.78. The stock has a fifty day simple moving average of $77.66 and a 200 day simple moving average of $80.32.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 19th. Shareholders of record on Thursday, August 12th were issued a $0.45 dividend. The ex-dividend date was Wednesday, August 11th. This represents a $1.80 dividend on an annualized basis and a yield of 2.38%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.40. Diamondback Energy’s dividend payout ratio (DPR) is 59.21%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Concord Wealth Partners grew its holdings in Diamondback Energy by 31.4% in the 1st quarter. Concord Wealth Partners now owns 2,984 shares of the oil and natural gas company’s stock valued at $219,000 after buying an additional 713 shares during the last quarter. Alpha Paradigm Partners LLC acquired a new stake in Diamondback Energy in the 1st quarter valued at approximately $7,971,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Diamondback Energy by 32.8% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,140 shares of the oil and natural gas company’s stock valued at $2,830,000 after buying an additional 7,441 shares during the last quarter. WBI Investments acquired a new stake in Diamondback Energy in the 1st quarter valued at approximately $5,489,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Diamondback Energy by 56.5% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 6,286 shares of the oil and natural gas company’s stock worth $588,000 after purchasing an additional 2,270 shares in the last quarter. 89.61% of the stock is currently owned by hedge funds and other institutional investors.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.
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