Diamondback Energy (NASDAQ:FANG – Free Report) had its price target cut by Truist Financial from $250.00 to $248.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the oil and natural gas company’s stock.
Other analysts also recently issued research reports about the stock. Bank of America raised shares of Diamondback Energy from an underperform rating to a neutral rating and lifted their target price for the stock from $129.00 to $170.00 in a report on Monday, February 12th. Raymond James reduced their target price on shares of Diamondback Energy from $190.00 to $185.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. Bank Of America (Bofa) cut their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an underperform rating for the company in a report on Thursday, January 18th. Royal Bank of Canada reissued an outperform rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Monday, March 4th. Finally, KeyCorp boosted their price objective on shares of Diamondback Energy from $186.00 to $210.00 and gave the company an overweight rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $191.32.
Read Our Latest Report on FANG
Diamondback Energy Stock Up 1.6 %
Diamondback Energy stock opened at $204.32 on Friday. The firm has a market capitalization of $36.44 billion, a PE ratio of 11.78 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. The company’s 50-day moving average is $178.60 and its 200-day moving average is $163.70. Diamondback Energy has a fifty-two week low of $123.41 and a fifty-two week high of $205.02.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last announced its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. Diamondback Energy’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.29 EPS. Sell-side analysts anticipate that Diamondback Energy will post 18.01 earnings per share for the current year.
Diamondback Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were given a dividend of $3.08 per share. This represents a $12.32 dividend on an annualized basis and a yield of 6.03%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, March 4th. Diamondback Energy’s dividend payout ratio is currently 20.76%.
Insider Buying and Selling
In related news, VP Jere W. Thompson III sold 2,675 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the completion of the transaction, the vice president now directly owns 8,485 shares in the company, valued at approximately $1,632,089.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total transaction of $514,536.25. Following the transaction, the vice president now directly owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock worth $11,311,096 in the last three months. 0.43% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Diamondback Energy
A number of hedge funds have recently bought and sold shares of FANG. Price T Rowe Associates Inc. MD grew its holdings in Diamondback Energy by 62.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,227,655 shares of the oil and natural gas company’s stock worth $965,786,000 after purchasing an additional 2,388,547 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Diamondback Energy by 39.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after purchasing an additional 858,446 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Diamondback Energy during the third quarter valued at about $128,720,000. Wellington Management Group LLP lifted its position in shares of Diamondback Energy by 4.8% during the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after purchasing an additional 648,317 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of Diamondback Energy by 143.0% during the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after purchasing an additional 577,514 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.
Diamondback Energy Company Profile
(Get Free Report)
Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, 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.
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Source: defenseworld.net
Diamondback Energy (NASDAQ:FANG – Free Report) had its price target cut by Truist Financial from $250.00 to $248.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the oil and natural gas company’s stock.
Other analysts also recently issued research reports about the stock. Bank of America raised shares of Diamondback Energy from an underperform rating to a neutral rating and lifted their target price for the stock from $129.00 to $170.00 in a report on Monday, February 12th. Raymond James reduced their target price on shares of Diamondback Energy from $190.00 to $185.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. Bank Of America (Bofa) cut their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an underperform rating for the company in a report on Thursday, January 18th. Royal Bank of Canada reissued an outperform rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Monday, March 4th. Finally, KeyCorp boosted their price objective on shares of Diamondback Energy from $186.00 to $210.00 and gave the company an overweight rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $191.32.
Read Our Latest Report on FANG
Diamondback Energy Stock Up 1.6 %
Diamondback Energy stock opened at $204.32 on Friday. The firm has a market capitalization of $36.44 billion, a PE ratio of 11.78 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. The company’s 50-day moving average is $178.60 and its 200-day moving average is $163.70. Diamondback Energy has a fifty-two week low of $123.41 and a fifty-two week high of $205.02.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last announced its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. Diamondback Energy’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.29 EPS. Sell-side analysts anticipate that Diamondback Energy will post 18.01 earnings per share for the current year.
Diamondback Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were given a dividend of $3.08 per share. This represents a $12.32 dividend on an annualized basis and a yield of 6.03%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, March 4th. Diamondback Energy’s dividend payout ratio is currently 20.76%.
Insider Buying and Selling
In related news, VP Jere W. Thompson III sold 2,675 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the completion of the transaction, the vice president now directly owns 8,485 shares in the company, valued at approximately $1,632,089.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total transaction of $514,536.25. Following the transaction, the vice president now directly owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock worth $11,311,096 in the last three months. 0.43% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Diamondback Energy
A number of hedge funds have recently bought and sold shares of FANG. Price T Rowe Associates Inc. MD grew its holdings in Diamondback Energy by 62.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,227,655 shares of the oil and natural gas company’s stock worth $965,786,000 after purchasing an additional 2,388,547 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Diamondback Energy by 39.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after purchasing an additional 858,446 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Diamondback Energy during the third quarter valued at about $128,720,000. Wellington Management Group LLP lifted its position in shares of Diamondback Energy by 4.8% during the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after purchasing an additional 648,317 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of Diamondback Energy by 143.0% during the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after purchasing an additional 577,514 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.
Diamondback Energy Company Profile
(Get Free Report)
Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, 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.
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Receive News & Ratings for Diamondback Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Diamondback Energy and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
