Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) – Equities research analysts at Capital One Financial increased their FY2022 earnings estimates for Diamondback Energy in a report released on Wednesday, August 31st. Capital One Financial analyst B. Velie now expects that the oil and natural gas company will post earnings per share of $25.39 for the year, up from their previous forecast of $24.16. The consensus estimate for Diamondback Energy’s current full-year earnings is $26.11 per share.
A number of other research firms have also recently commented on FANG. MKM Partners reissued a “buy” rating and set a $155.00 target price on shares of Diamondback Energy in a research report on Wednesday, July 20th. Barclays raised their price objective on Diamondback Energy from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 14th. Mizuho decreased their price target on Diamondback Energy from $224.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, August 18th. StockNews.com lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Finally, Truist Financial increased their price objective on shares of Diamondback Energy from $185.00 to $203.00 in a research report on Tuesday, July 19th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $168.58.
Diamondback Energy Stock Performance
Ad Investing Daily
Former Lawyer Went From $50K To $5.3M Trading Options
Slaving away for 70 hrs a week as a lawyer in Chicago, I was miserable.
I ran into guys who worked the trading floor at the local exchange. I began trading the same way they did.
I started out with $50K (much more than I needed, actually).
I grew my $50K into $5.3M
FANG stock opened at $130.30 on Friday. Diamondback Energy has a one year low of $73.31 and a one year high of $162.24. The firm has a market cap of $22.60 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 0.24 and a beta of 2.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.69 and a current ratio of 0.73. The firm has a 50-day simple moving average of $122.99 and a two-hundred day simple moving average of $131.99.
Diamondback Energy (NASDAQ:FANG – Get Rating) last released its quarterly earnings results on Monday, August 1st. The oil and natural gas company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.66 by $0.41. Diamondback Energy had a return on equity of 25.12% and a net margin of 42.23%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the company posted $2.40 EPS. The business’s revenue for the quarter was up 64.7% compared to the same quarter last year.
Institutional Investors Weigh In On Diamondback Energy
Several institutional investors and hedge funds have recently added to or reduced their stakes in FANG. Wetherby Asset Management Inc. increased its stake in shares of Diamondback Energy by 1.4% during the fourth quarter. Wetherby Asset Management Inc. now owns 5,774 shares of the oil and natural gas company’s stock worth $622,000 after purchasing an additional 77 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Diamondback Energy by 14.5% in the second quarter. Brown Brothers Harriman & Co. now owns 624 shares of the oil and natural gas company’s stock valued at $76,000 after acquiring an additional 79 shares in the last quarter. Hodges Capital Management Inc. boosted its stake in shares of Diamondback Energy by 2.3% in the second quarter. Hodges Capital Management Inc. now owns 3,721 shares of the oil and natural gas company’s stock worth $451,000 after acquiring an additional 82 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Diamondback Energy by 2.3% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,697 shares of the oil and natural gas company’s stock worth $507,000 after purchasing an additional 83 shares in the last quarter. Finally, Biltmore Wealth Management LLC boosted its stake in Diamondback Energy by 1.6% during the 1st quarter. Biltmore Wealth Management LLC now owns 5,410 shares of the oil and natural gas company’s stock worth $742,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.
Insider Transactions at Diamondback Energy
In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 6,000 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $160.00, for a total transaction of $960,000.00. Following the transaction, the chief financial officer now owns 61,334 shares in the company, valued at $9,813,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.42% of the company’s stock.
Diamondback Energy announced that its board has approved a share buyback plan on Monday, August 1st that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the oil and natural gas company to buy up to 17.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
Diamondback Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 16th were given a $3.05 dividend. The ex-dividend date was Monday, August 15th. This represents a $12.20 dividend on an annualized basis and a dividend yield of 9.36%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.70. Diamondback Energy’s dividend payout ratio is 14.03%.
Diamondback Energy Company Profile
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 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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Diamondback Energy, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Diamondback Energy wasn’t on the list.
While Diamondback Energy currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: marketbeat.com
