Diamondback Energy (NASDAQ:FANG) Stock Rating Reaffirmed by Bank of America

Bank of America reiterated their neutral rating on shares of Diamondback Energy (NASDAQ:FANGFree Report) in a report published on Friday, Benzinga reports. The brokerage currently has a $201.00 price target on the oil and natural gas company’s stock.

Several other research analysts have also recently weighed in on the company. Sanford C. Bernstein started coverage on Diamondback Energy in a research report on Thursday, June 6th. They set an outperform rating and a $243.00 price objective on the stock. StockNews.com upgraded shares of Diamondback Energy from a hold rating to a buy rating in a report on Tuesday, June 4th. Piper Sandler lifted their target price on Diamondback Energy from $227.00 to $247.00 and gave the stock an overweight rating in a report on Friday, April 19th. Wells Fargo & Company dropped their target price on shares of Diamondback Energy from $227.00 to $224.00 and set an overweight rating on the stock in a report on Thursday, May 2nd. Finally, Scotiabank lifted their price objective on shares of Diamondback Energy from $210.00 to $255.00 and gave the company a sector outperform rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $209.35.

View Our Latest Stock Report on FANG

Diamondback Energy Trading Up 0.9 %

NASDAQ:FANG opened at $187.56 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. Diamondback Energy has a 1-year low of $123.41 and a 1-year high of $211.96. The firm has a market capitalization of $33.45 billion, a price-to-earnings ratio of 10.57 and a beta of 1.90. The business’s 50-day moving average price is $198.44 and its two-hundred day moving average price is $178.87.

Diamondback Energy (NASDAQ:FANGGet Free Report) last released its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the prior year, the company earned $4.10 EPS. The company’s revenue was up 15.7% on a year-over-year basis. On average, equities analysts expect that Diamondback Energy will post 19.13 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s payout ratio is currently 20.29%.

Insider Buying and Selling at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the sale, the vice president now owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,900 shares of company stock valued at $11,006,290. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Sage Mountain Advisors LLC boosted its position in shares of Diamondback Energy by 4.5% in the first quarter. Sage Mountain Advisors LLC now owns 1,420 shares of the oil and natural gas company’s stock worth $281,000 after purchasing an additional 61 shares during the period. MCF Advisors LLC lifted its stake in shares of Diamondback Energy by 8.6% during the 4th quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after buying an additional 67 shares in the last quarter. Meeder Advisory Services Inc. boosted its holdings in Diamondback Energy by 2.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,612 shares of the oil and natural gas company’s stock worth $518,000 after buying an additional 72 shares during the period. Edmond DE Rothschild Holding S.A. increased its stake in Diamondback Energy by 20.8% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 424 shares of the oil and natural gas company’s stock worth $84,000 after buying an additional 73 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. raised its holdings in Diamondback Energy by 9.4% during the first quarter. Wetzel Investment Advisors Inc. now owns 859 shares of the oil and natural gas company’s stock valued at $171,000 after acquiring an additional 74 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

About Diamondback Energy

(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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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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