Recent Analysts’ Ratings Changes for Diamondback Energy (FANG)

A number of firms have modified their ratings and price targets on shares of Diamondback Energy (NASDAQ: FANG) recently:

  • 2/8/2019 – Diamondback Energy was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 2/8/2019 – Diamondback Energy was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Diamondback Energy focuses on growth through a combination of acquisitions and active drilling in the lucrative Permian Basin spread over west Texas and New Mexico. Since the 2012 IPO, the Permian pure play’s annual production and cash flow per share have witnessed CAGRs of 76% and 30%, respectively. Diamondback's twin acquisitions of Energen Corporation and Ajax Resources – totaling more than $10 billion – are expected to further strengthen its Permian position, with multi-year production growth prospects, a wide inventory of drill-ready locations and the promise of billions worth of synergies. However, service cost inflation and takeaway capacity constraints in the Permian have emerged as concerns. Hence, investors are advised to wait for a better entry point before buying shares in Diamondback.”
  • 2/5/2019 – Diamondback Energy was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 1/29/2019 – Diamondback Energy was given a new $147.00 price target on by analysts at Morgan Stanley. They now have a “buy” rating on the stock.
  • 1/29/2019 – Diamondback Energy is now covered by analysts at Mizuho. They set a “buy” rating and a $137.00 price target on the stock.
  • 1/16/2019 – Diamondback Energy is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $189.00 price target on the stock.
  • 1/11/2019 – Diamondback Energy was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Taking into account multiple headwinds, Diamondback's rating is downgraded to 'Strong Sell'. Over the last three months, shares of Diamondback Energy declined more than 15% as a renewed slump in crude prices due to a persistent global supply glut sent a shockwave through the industry. As it is, the Permian pure play has been grappling with pipeline crisis in the region. Diamondback is bearing the brunt of discounted oil prices due to infrastructure bottlenecks in Permian play. In addition, the region's oilfield service cost inflation may affect returns as well. Needless to say, the company faces huge geographic concentration risk. Consequently, Diamondback is viewed as a risky bet as of now. “
  • 1/11/2019 – Diamondback Energy was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 1/7/2019 – Diamondback Energy was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating.
  • 1/5/2019 – Diamondback Energy was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 1/5/2019 – Diamondback Energy was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 1/2/2019 – Diamondback Energy was given a new $158.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “buy” rating on the stock.
  • 12/28/2018 – Diamondback Energy had its “buy” rating reaffirmed by analysts at Goldman Sachs Group Inc.
  • 12/24/2018 – Diamondback Energy was given a new $158.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “buy fang” rating on the stock.
  • 12/20/2018 – Diamondback Energy had its price target lowered by analysts at Wells Fargo & Co from $157.00 to $151.00. They now have a “positive” rating on the stock.
  • 12/20/2018 – Diamondback Energy is now covered by analysts at KeyCorp. They set an “overweight” rating and a $116.00 price target on the stock.
  • 12/20/2018 – Diamondback Energy had its “outperform” rating reaffirmed by analysts at Imperial Capital. They now have a $140.00 price target on the stock, down previously from $170.00.
  • 12/20/2018 – Diamondback Energy was given a new $145.00 price target on by analysts at Morgan Stanley. They now have a “buy” rating on the stock.
  • 12/18/2018 – Diamondback Energy was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Shares of Diamondback Energy stock traded up $1.26 during trading on Monday, reaching $97.86. The company’s stock had a trading volume of 1,374,100 shares, compared to its average volume of 1,906,307. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 1.08. Diamondback Energy Inc has a 12-month low of $85.19 and a 12-month high of $140.78. The company has a market cap of $9.78 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 0.47 and a beta of 0.93.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Thursday, February 21st will be paid a $0.125 dividend. The ex-dividend date is Wednesday, February 20th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.51%. Diamondback Energy’s dividend payout ratio (DPR) is presently 9.43%.

In related news, VP Hof Matthew Kaes Van’t sold 1,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, December 20th. The stock was sold at an average price of $89.91, for a total value of $89,910.00. Following the sale, the vice president now directly owns 5,757 shares in the company, valued at $517,611.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.57% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Legacy Financial Advisors Inc. purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $30,000. Oregon Public Employees Retirement Fund boosted its position in Diamondback Energy by 28,126.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 2,971,317 shares in the last quarter. Webster Bank N. A. purchased a new stake in Diamondback Energy during the fourth quarter worth $36,000. Sun Life Financial INC purchased a new stake in Diamondback Energy during the fourth quarter worth $38,000. Finally, Guardian Life Insurance Co. of America purchased a new stake in Diamondback Energy during the fourth quarter worth $40,000.

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.

See Also: Back-End Load

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