Diamondback Energy, Inc. (NASDAQ:FANG) Given Average Rating of “Moderate Buy” by Brokerages

Diamondback Energy, Inc. (NASDAQ:FANG) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-five research firms that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and four have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $224.55.

A number of equities analysts recently commented on the company. Barclays decreased their price target on Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Jefferies Financial Group reissued a “hold” rating and set a $205.00 price target on shares of Diamondback Energy in a research report on Sunday, August 9th. Citigroup reduced their price objective on Diamondback Energy from $221.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Stifel Nicolaus assumed coverage on shares of Diamondback Energy in a research note on Thursday, September 10th. They set a “buy” rating and a $259.00 target price for the company. Finally, Seaport Research Partners initiated coverage on shares of Diamondback Energy in a report on Thursday, September 3rd. They issued a “neutral” rating for the company.

Insider Buying and Selling

In related news, Director Travis D. Stice sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $204.31, for a total value of $15,323,250.00. Following the sale, the director owned 49,727 shares of the company’s stock, valued at approximately $10,159,723.37. This trade represents a 60.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles Meloy sold 33,333 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $198.41, for a total value of $6,613,600.53. Following the transaction, the director owned 818,197 shares of the company’s stock, valued at $162,338,466.77. This represents a 3.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Talon Private Wealth LLC grew its position in shares of Diamondback Energy by 19.8% during the second quarter. Talon Private Wealth LLC now owns 12,075 shares of the oil and natural gas company’s stock worth $2,122,000 after acquiring an additional 1,993 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Diamondback Energy by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 150,826 shares of the oil and natural gas company’s stock valued at $26,512,000 after purchasing an additional 4,686 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Diamondback Energy by 3.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,686 shares of the oil and natural gas company’s stock valued at $1,351,000 after purchasing an additional 259 shares during the last quarter. MCF Advisors LLC boosted its stake in Diamondback Energy by 11.6% during the 2nd quarter. MCF Advisors LLC now owns 1,987 shares of the oil and natural gas company’s stock valued at $349,000 after purchasing an additional 207 shares during the period. Finally, Allworth Financial LP boosted its stake in Diamondback Energy by 43.3% during the 2nd quarter. Allworth Financial LP now owns 11,812 shares of the oil and natural gas company’s stock valued at $2,076,000 after purchasing an additional 3,568 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $211.52 on Friday. Diamondback Energy has a fifty-two week low of $135.59 and a fifty-two week high of $216.90. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The firm has a market cap of $59.23 billion, a PE ratio of 41.23 and a beta of 0.43. The business has a 50 day moving average price of $199.05 and a two-hundred day moving average price of $193.42.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.08 by $0.40. The firm had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.38 earnings per share. Sell-side analysts expect that Diamondback Energy will post 19.94 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, August 13th. Diamondback Energy’s payout ratio is presently 85.77%.

More Diamondback Energy News

Here are the key news stories impacting Diamondback Energy this week:

• Positive Sentiment: UBS initiated or reiterated a Buy rating on Diamondback Energy, adding to an already favorable analyst outlook. The stock carries a “Moderate Buy” consensus rating, with an average price target above its recent trading level. Diamondback Receives a Buy from UBS
• Positive Sentiment: Diamondback’s latest quarterly results provide fundamental support: EPS of $6.48 exceeded the $6.08 consensus estimate, while revenue of $5.56 billion topped the $4.89 billion forecast. Earnings also rose sharply from the prior-year period.
• Neutral Sentiment: A Zacks industry outlook highlighted Diamondback alongside W&T Offshore and APA. The company remains focused on efficient oil and natural-gas production from high-quality Permian Basin assets, leaving its outlook sensitive to commodity prices. Zacks Industry Outlook W&T Offshore, APA and Diamondback
• Negative Sentiment: Director Travis Stice sold 75,000 shares for approximately $15.3 million at an average price of $204.31, reducing his direct ownership by about 60%. Although insider sales may reflect personal financial planning, the sizable transaction could weigh modestly on sentiment. Diamondback Director Sells 75,000 Shares

About Diamondback Energy

Diamondback Energy, Inc is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico. The company’s operations are concentrated primarily in the Midland and Delaware sub-basins.

Diamondback produces crude oil, natural gas and natural gas liquids. Its activities include drilling and completing horizontal wells, operating gathering and infrastructure assets, and managing mineral and royalty interests through its Viper Energy platform.