Diamondback Energy (NASDAQ:FANG) Price Target Lowered to $209.00 at Evercore ISI

Diamondback Energy (NASDAQ:FANG) had its target price lowered by Evercore ISI from $235.00 to $209.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an outperform rating on the oil and natural gas company’s stock.

Several other research analysts have also commented on the company. StockNews.com lowered Diamondback Energy from a buy rating to a hold rating in a report on Saturday, July 6th. Johnson Rice cut shares of Diamondback Energy from a strong-buy rating to a moderate buy rating in a research note on Tuesday, September 24th. Benchmark restated a buy rating and set a $154.00 price objective on shares of Diamondback Energy in a research report on Tuesday, August 6th. Bank of America increased their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a neutral rating in a research note on Tuesday, July 23rd. Finally, UBS Group dropped their price target on Diamondback Energy from $247.00 to $223.00 and set a buy rating for the company in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $207.68.

Diamondback Energy Stock Up 3.9 %

FANG stock opened at $188.30 on Monday. The stock has a 50-day simple moving average of $187.52 and a two-hundred day simple moving average of $195.20. Diamondback Energy has a twelve month low of $143.08 and a twelve month high of $214.50. The firm has a market capitalization of $33.58 billion, a PE ratio of 10.61, a PEG ratio of 1.17 and a beta of 1.89. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.68 earnings per share. On average, equities analysts predict that Diamondback Energy will post 18.97 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a dividend of $2.34 per share. The ex-dividend date was Thursday, August 15th. This represents a yield of 1.9%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s payout ratio is presently 20.29%.

Insider Activity

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds have recently bought and sold shares of the company. Founders Capital Management increased its stake in Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 101 shares in the last quarter. First Community Trust NA purchased a new stake in shares of Diamondback Energy during the second quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC increased its position in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Logan Capital Management Inc. bought a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $31,000. Finally, HHM Wealth Advisors LLC purchased a new position in Diamondback Energy in the 2nd quarter worth approximately $40,000. Institutional investors own 90.01% of the company’s stock.

About Diamondback Energy

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.