Diamondback Energy (NASDAQ:FANG)’s share price gapped down prior to trading on Friday . The stock had previously closed at $118.47, but opened at $120.35. Diamondback Energy shares last traded at $120.35, with a volume of 2607667 shares traded.
A number of equities analysts have weighed in on FANG shares. Deutsche Bank started coverage on shares of Diamondback Energy in a research report on Thursday, February 1st. They issued a “buy” rating and a $162.00 price target for the company. Stifel Nicolaus set a $149.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, January 30th. BidaskClub lowered shares of Diamondback Energy from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 26th. Stephens reiterated a “buy” rating and issued a $160.00 price target on shares of Diamondback Energy in a research report on Tuesday, February 6th. Finally, SunTrust Banks set a $165.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Diamondback Energy has an average rating of “Buy” and a consensus target price of $142.08.
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 firm has a market capitalization of $12.78 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 0.71 and a beta of 0.84.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, May 8th. The oil and natural gas company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.59 by $0.05. Diamondback Energy had a net margin of 35.09% and a return on equity of 10.53%. The firm had revenue of $480.20 million for the quarter, compared to the consensus estimate of $445.78 million. During the same quarter in the previous year, the firm earned $1.04 earnings per share. The company’s quarterly revenue was up 104.1% compared to the same quarter last year. analysts anticipate that Diamondback Energy will post 6.56 earnings per share for the current fiscal year.
The firm also recently declared a special dividend, which will be paid on Tuesday, May 29th. Investors of record on Monday, May 21st will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, May 18th. Diamondback Energy’s payout ratio is 9.43%.
In related news, VP Russell Pantermuehl sold 2,000 shares of the company’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $137.00, for a total transaction of $274,000.00. Following the sale, the vice president now owns 91,532 shares of the company’s stock, valued at $12,539,884. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Teresa L. Dick sold 2,500 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $130.97, for a total transaction of $327,425.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,000 shares of company stock worth $1,300,275. 0.57% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in FANG. Next Century Growth Investors LLC purchased a new stake in shares of Diamondback Energy in the first quarter valued at $121,000. ClariVest Asset Management LLC raised its stake in shares of Diamondback Energy by 14,557.1% in the first quarter. ClariVest Asset Management LLC now owns 1,026 shares of the oil and natural gas company’s stock valued at $130,000 after acquiring an additional 1,019 shares during the period. Signaturefd LLC purchased a new stake in shares of Diamondback Energy in the first quarter valued at $132,000. Zions Bancorporation purchased a new stake in shares of Diamondback Energy in the first quarter valued at $136,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at $149,000.
Diamondback Energy Company Profile
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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