Diamondback Energy Inc (NASDAQ:FANG) gapped up before the market opened on Thursday after MKM Partners raised their price target on the stock from $133.00 to $134.00. The stock had previously closed at $81.21, but opened at $79.29. MKM Partners currently has a buy rating on the stock. Diamondback Energy shares last traded at $79.16, with a volume of 1,065,735 shares changing hands.
A number of other equities research analysts also recently issued reports on the stock. Bank of America reaffirmed a “buy” rating and set a $125.00 price target on shares of Diamondback Energy in a research note on Tuesday. Johnson Rice cut shares of Diamondback Energy from a “buy” rating to an “accumulate” rating in a research note on Tuesday, November 19th. Siebert Williams Shank restated a “buy” rating and issued a $136.00 target price on shares of Diamondback Energy in a report on Wednesday. BidaskClub cut shares of Diamondback Energy from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Finally, Raymond James increased their price target on shares of Diamondback Energy from $110.00 to $125.00 and gave the company a “strong-buy” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Diamondback Energy currently has a consensus rating of “Buy” and a consensus target price of $130.39.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Daiwa Securities Group Inc. boosted its holdings in Diamondback Energy by 7.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,876 shares of the oil and natural gas company’s stock valued at $708,000 after acquiring an additional 566 shares during the period. SWS Partners bought a new stake in shares of Diamondback Energy during the third quarter worth $266,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in shares of Diamondback Energy by 96.9% during the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 10,960 shares of the oil and natural gas company’s stock valued at $982,000 after purchasing an additional 5,394 shares during the period. Conning Inc. purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at $223,000. Finally, BlackRock Inc. boosted its stake in shares of Diamondback Energy by 4.7% during the second quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock valued at $1,167,931,000 after purchasing an additional 485,647 shares during the period. 96.90% of the stock is owned by institutional investors and hedge funds.
The stock has a market capitalization of $11.96 billion, a P/E ratio of 56.46, a PEG ratio of 0.67 and a beta of 0.98. The stock’s fifty day moving average price is $83.18 and its 200 day moving average price is $87.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.72 and a quick ratio of 0.68.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 18th. The oil and natural gas company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.13. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Diamondback Energy had a net margin of 6.05% and a return on equity of 6.97%. The firm’s revenue for the quarter was up 74.4% on a year-over-year basis. During the same quarter last year, the business posted $1.21 EPS. On average, sell-side analysts expect that Diamondback Energy Inc will post 8.96 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.19. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.91%. Diamondback Energy’s dividend payout ratio (DPR) is 10.82%.
Diamondback Energy Company Profile (NASDAQ:FANG)
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.