Shares of Diamondback Energy Inc (NASDAQ:FANG) have earned an average recommendation of “Buy” from the thirty ratings firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $141.05.
A number of brokerages recently issued reports on FANG. Morgan Stanley decreased their price target on shares of Diamondback Energy from $129.00 to $123.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup decreased their price target on shares of Diamondback Energy from $135.00 to $118.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. TheStreet downgraded shares of Diamondback Energy from a “b-” rating to a “c+” rating in a research note on Tuesday, October 8th. BidaskClub upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada decreased their price target on shares of Diamondback Energy from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday.
Shares of NASDAQ FANG traded down $0.13 during mid-day trading on Thursday, reaching $75.43. The company’s stock had a trading volume of 2,379,700 shares, compared to its average volume of 1,849,165. The stock has a 50-day moving average of $86.38 and a two-hundred day moving average of $98.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.79 and a current ratio of 0.82. Diamondback Energy has a 1-year low of $74.25 and a 1-year high of $115.97. The stock has a market capitalization of $14.71 billion, a P/E ratio of 12.85, a P/E/G ratio of 0.47 and a beta of 0.78.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.75 annualized dividend and a dividend yield of 0.99%. Diamondback Energy’s dividend payout ratio is presently 12.78%.
In other news, Director Michael P. Cross sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $104.75, for a total transaction of $104,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $100.78, for a total transaction of $201,560.00. Following the sale, the vice president now owns 110,107 shares of the company’s stock, valued at approximately $11,096,583.46. The disclosure for this sale can be found here. Insiders have sold a total of 16,000 shares of company stock valued at $1,621,690 in the last 90 days. Insiders own 0.47% of the company’s stock.
Several institutional investors have recently made changes to their positions in FANG. Archford Capital Strategies LLC increased its holdings in shares of Diamondback Energy by 1,100.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after acquiring an additional 220 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $32,000. Commonwealth Bank of Australia increased its holdings in shares of Diamondback Energy by 81.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 152 shares during the period. FNY Investment Advisers LLC increased its holdings in shares of Diamondback Energy by 4,118.2% in the 3rd quarter. FNY Investment Advisers LLC now owns 464 shares of the oil and natural gas company’s stock valued at $41,000 after acquiring an additional 453 shares during the period. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $44,000. 99.27% of the stock is currently 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.
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