Diamondback Energy (FANG) Reaches New 52-Week High and Low at $137.69

Diamondback Energy (NASDAQ:FANG) shares reached a new 52-week high and low during trading on Thursday . The stock traded as low as $137.69 and last traded at $137.78, with a volume of 65588 shares. The stock had previously closed at $132.97.

Several research analysts recently commented on FANG shares. Roth Capital raised their price target on shares of Diamondback Energy from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. KeyCorp set a $137.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Sunday, January 21st. Credit Suisse Group set a $143.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Morgan Stanley raised their price target on shares of Diamondback Energy from $138.00 to $167.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, BidaskClub downgraded shares of Diamondback Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 26th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $142.04.

The company has a current ratio of 0.53, a quick ratio of 0.52 and a debt-to-equity ratio of 0.30. The stock has a market cap of $13.44 billion, a P/E ratio of 25.39, a PEG ratio of 0.74 and a beta of 0.84.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, May 8th. The oil and natural gas company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $480.20 million for the quarter, compared to the consensus estimate of $445.78 million. Diamondback Energy had a net margin of 35.09% and a return on equity of 10.53%. The company’s revenue for the quarter was up 104.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. analysts anticipate that Diamondback Energy will post 6.65 earnings per share for the current year.

The company also recently declared a special dividend, which will be paid on Tuesday, May 29th. Stockholders of record on Monday, May 21st will be issued a $0.125 dividend. The ex-dividend date is Friday, May 18th.

In other news, CFO Teresa L. Dick sold 2,500 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $130.97, for a total value of $327,425.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Randall J. Holder sold 7,120 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $124.15, for a total transaction of $883,948.00. The disclosure for this sale can be found here. Insiders sold a total of 12,620 shares of company stock worth $1,567,773 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Castleark Management LLC boosted its holdings in shares of Diamondback Energy by 127.1% in the 4th quarter. Castleark Management LLC now owns 113,983 shares of the oil and natural gas company’s stock valued at $14,390,000 after buying an additional 63,801 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Diamondback Energy by 25.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 15,287 shares of the oil and natural gas company’s stock valued at $1,930,000 after buying an additional 3,126 shares in the last quarter. Gradient Investments LLC bought a new stake in shares of Diamondback Energy in the 4th quarter valued at about $517,000. California Public Employees Retirement System boosted its holdings in shares of Diamondback Energy by 12.5% in the 4th quarter. California Public Employees Retirement System now owns 209,415 shares of the oil and natural gas company’s stock valued at $26,439,000 after buying an additional 23,254 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Diamondback Energy by 33.7% in the 4th quarter. Sei Investments Co. now owns 157,323 shares of the oil and natural gas company’s stock valued at $19,863,000 after buying an additional 39,657 shares in the last quarter.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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