Diamondback Energy (NASDAQ:FANG) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Diamondback Energy (NASDAQ:FANG) from a sell rating to a hold rating in a research report report published on Thursday morning, BidAskClub reports.

FANG has been the topic of a number of other reports. KeyCorp lifted their price objective on shares of Diamondback Energy from $125.00 to $133.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Credit Suisse Group started coverage on shares of Diamondback Energy in a report on Monday, June 17th. They issued an outperform rating and a $135.00 price objective on the stock. Morgan Stanley lowered their price objective on shares of Diamondback Energy from $143.00 to $140.00 and set an overweight rating on the stock in a report on Wednesday, August 14th. Roth Capital lowered their price objective on shares of Diamondback Energy from $166.00 to $150.00 and set a buy rating on the stock in a report on Friday, June 7th. Finally, Raymond James upgraded shares of Diamondback Energy from an outperform rating to a strong-buy rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and three have issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $156.60.

Shares of FANG stock opened at $97.26 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.79 and a current ratio of 0.82. The company has a market capitalization of $15.62 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 0.64 and a beta of 0.82. The company’s 50 day moving average price is $102.56 and its two-hundred day moving average price is $103.24. 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 earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.04). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a return on equity of 6.50% and a net margin of 26.92%. The business’s quarterly revenue was up 93.7% on a year-over-year basis. During the same quarter last year, the business posted $1.59 earnings per share. Analysts forecast that Diamondback Energy will post 7.27 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 16th will be issued a dividend of $0.188 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.75 dividend on an annualized basis and a yield of 0.77%. Diamondback Energy’s payout ratio is 12.78%.

In other news, CEO Travis D. Stice bought 4,186 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $95.55 per share, for a total transaction of $399,972.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Russell Pantermuehl sold 5,000 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $107.28, for a total transaction of $536,400.00. Following the transaction, the vice president now owns 112,107 shares in the company, valued at $12,026,838.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,500 shares of company stock worth $1,258,505. 0.47% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Delek Group Ltd. boosted its position in Diamondback Energy by 13.9% during the first quarter. Delek Group Ltd. now owns 221,860 shares of the oil and natural gas company’s stock worth $22,414,000 after purchasing an additional 27,060 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in Diamondback Energy by 3.4% during the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 126,008 shares of the oil and natural gas company’s stock worth $12,794,000 after purchasing an additional 4,146 shares during the period. Trexquant Investment LP bought a new position in Diamondback Energy during the first quarter worth $4,545,000. Alphasimplex Group LLC bought a new position in Diamondback Energy during the first quarter worth $1,031,000. Finally, Scout Investments Inc. boosted its position in Diamondback Energy by 7.6% during the second quarter. Scout Investments Inc. now owns 208,270 shares of the oil and natural gas company’s stock worth $22,695,000 after purchasing an additional 14,703 shares during the period. Institutional investors and hedge funds own 99.48% of the company’s stock.

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 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.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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