Oppenheimer lowered shares of Diamondback Energy (NASDAQ:FANG) from an outperform rating to a market perform rating in a research note issued to investors on Thursday morning, The Fly reports. They currently have $138.00 price objective on the oil and natural gas company’s stock. Oppenheimer also issued estimates for Diamondback Energy’s Q1 2020 earnings at $2.15 EPS, Q2 2020 earnings at $2.29 EPS, Q3 2020 earnings at $2.37 EPS, Q4 2020 earnings at $2.43 EPS and FY2020 earnings at $9.23 EPS.
A number of other research analysts also recently commented on FANG. BidaskClub upgraded Diamondback Energy from a sell rating to a hold rating in a research note on Wednesday, October 30th. Raymond James decreased their price target on Diamondback Energy from $155.00 to $120.00 and set a strong-buy rating for the company in a research note on Thursday, October 17th. Wells Fargo & Co decreased their price target on Diamondback Energy from $171.00 to $168.00 and set an outperform rating for the company in a research note on Friday, September 20th. TheStreet cut Diamondback Energy from a b- rating to a c+ rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada decreased their price target on Diamondback Energy from $140.00 to $135.00 and set an outperform rating for the company in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $141.05.
Shares of NASDAQ:FANG traded down $0.13 during trading on Thursday, reaching $75.43. 2,379,700 shares of the stock were exchanged, compared to its average volume of 1,849,165. The firm has a market cap of $14.71 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 0.47 and a beta of 0.78. The firm’s 50-day moving average price is $86.38 and its 200 day moving average price is $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 12-month low of $74.25 and a 12-month high of $115.97.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, November 5th. The oil and natural gas company reported $1.47 EPS for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.24). The company had revenue of $975.00 million for the quarter, compared to the consensus estimate of $1.04 billion. Diamondback Energy had a return on equity of 6.09% and a net margin of 29.59%. Diamondback Energy’s quarterly revenue was up 81.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 earnings per share. As a group, equities research analysts forecast that Diamondback Energy will post 6.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 15th will be paid a dividend of $0.1875 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.75 annualized dividend and a yield of 0.99%. Diamondback Energy’s dividend payout ratio is currently 12.78%.
In related news, EVP Randall J. Holder sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $100.00, for a total transaction of $300,000.00. Following the completion of the transaction, the executive vice president now owns 11,448 shares of the company’s stock, valued at $1,144,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Michael L. Hollis sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $102.25, for a total value of $204,500.00. The disclosure for this sale can be found here. Insiders have sold 16,000 shares of company stock valued at $1,621,690 in the last ninety days. Company insiders own 0.47% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FANG. State of Alaska Department of Revenue lifted its holdings in shares of Diamondback Energy by 0.4% during the second quarter. State of Alaska Department of Revenue now owns 25,041 shares of the oil and natural gas company’s stock valued at $2,727,000 after purchasing an additional 103 shares during the last quarter. Oakbrook Investments LLC lifted its holdings in shares of Diamondback Energy by 1.7% during the second quarter. Oakbrook Investments LLC now owns 7,350 shares of the oil and natural gas company’s stock valued at $801,000 after purchasing an additional 125 shares during the last quarter. Hartford Investment Management Co. lifted its holdings in shares of Diamondback Energy by 0.8% during the second quarter. Hartford Investment Management Co. now owns 16,662 shares of the oil and natural gas company’s stock valued at $1,816,000 after purchasing an additional 138 shares during the last quarter. Corient Capital Partners LLC lifted its holdings in shares of Diamondback Energy by 6.9% during the third quarter. Corient Capital Partners LLC now owns 2,274 shares of the oil and natural gas company’s stock valued at $204,000 after purchasing an additional 146 shares during the last quarter. Finally, First National Bank of Omaha lifted its holdings in shares of Diamondback Energy by 0.5% during the second quarter. First National Bank of Omaha now owns 30,040 shares of the oil and natural gas company’s stock valued at $3,273,000 after purchasing an additional 150 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.
Diamondback Energy Company Profile
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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