Roth Capital Lowers Diamondback Energy (NASDAQ:FANG) Price Target to $150.00

Diamondback Energy (NASDAQ:FANG) had its price objective trimmed by Roth Capital from $166.00 to $150.00 in a report released on Friday, June 7th. The firm currently has a buy rating on the oil and natural gas company’s stock.

Other analysts also recently issued reports about the company. Northland Securities restated a buy rating and set a $150.00 target price on shares of Diamondback Energy in a research note on Friday, March 29th. Williams Capital reaffirmed a buy rating and set a $153.00 price target on shares of Diamondback Energy in a research report on Wednesday, February 20th. Bank of America reaffirmed a buy rating and set a $165.00 price target (up previously from $154.00) on shares of Diamondback Energy in a research report on Tuesday, April 16th. KeyCorp increased their price target on shares of Diamondback Energy from $124.00 to $125.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research raised shares of Diamondback Energy from a strong sell rating to a hold rating in a report on Friday, February 8th. Two research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company’s stock. Diamondback Energy has a consensus rating of Buy and a consensus target price of $159.04.

FANG stock opened at $108.97 on Friday. The firm has a market cap of $17.94 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 0.66 and a beta of 0.83. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average price is $104.07. Diamondback Energy has a 52 week low of $85.19 and a 52 week high of $140.78.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Diamondback Energy had a return on equity of 6.81% and a net margin of 27.05%. The firm had revenue of $864.00 million during the quarter, compared to the consensus estimate of $893.16 million. During the same period in the prior year, the firm earned $1.64 EPS. The firm’s quarterly revenue was up 80.4% compared to the same quarter last year. As a group, equities analysts forecast that Diamondback Energy will post 8.01 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 28th were given a $0.188 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, May 24th. This represents a $0.75 annualized dividend and a yield of 0.69%. Diamondback Energy’s payout ratio is 12.78%.

In related news, VP Russell Pantermuehl sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $107.28, for a total value of $536,400.00. Following the completion of the transaction, the vice president now owns 112,107 shares of the company’s stock, valued at approximately $12,026,838.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $107.47, for a total transaction of $161,205.00. Following the completion of the transaction, the chief financial officer now directly owns 27,465 shares of the company’s stock, valued at approximately $2,951,663.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,500 shares of company stock worth $1,258,505. 0.47% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Ranger Investment Management L.P. acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at $25,000. Berman Capital Advisors LLC raised its holdings in Diamondback Energy by 180.8% in the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock worth $29,000 after acquiring an additional 188 shares during the period. Manchester Capital Management LLC bought a new position in Diamondback Energy in the 1st quarter worth $34,000. Bronfman E.L. Rothschild L.P. raised its holdings in Diamondback Energy by 136.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 400 shares of the oil and natural gas company’s stock worth $37,000 after acquiring an additional 231 shares during the period. Finally, Rehmann Capital Advisory Group raised its holdings in Diamondback Energy by 114.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 401 shares of the oil and natural gas company’s stock worth $37,000 after acquiring an additional 214 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

About Diamondback Energy

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.

Further Reading: Beta

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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