Diamondback Energy (NASDAQ:FANG) Lifted to “Overweight” at Barclays

Barclays upgraded shares of Diamondback Energy (NASDAQ:FANGGet Rating) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The firm currently has $160.00 price target on the oil and natural gas company’s stock, down from their prior price target of $162.00.

A number of other research analysts also recently commented on FANG. Raymond James upped their price objective on shares of Diamondback Energy from $195.00 to $200.00 and gave the company a strong-buy rating in a research note on Monday, April 25th. Royal Bank of Canada upped their price objective on shares of Diamondback Energy from $150.00 to $160.00 in a research note on Thursday, February 24th. TheStreet raised shares of Diamondback Energy from a c+ rating to a b rating in a research note on Tuesday, February 22nd. Susquehanna Bancshares upped their price objective on shares of Diamondback Energy from $152.00 to $167.00 and gave the company a positive rating in a research note on Monday, April 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Diamondback Energy from $204.00 to $200.00 and set an overweight rating for the company in a research note on Tuesday, May 17th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of Buy and a consensus price target of $160.63.

NASDAQ:FANG opened at $152.66 on Wednesday. The firm has a market cap of $27.10 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.24 and a beta of 2.20. The company has a current ratio of 0.72, a quick ratio of 0.69 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average is $136.03 and its two-hundred day moving average is $125.72. Diamondback Energy has a 12-month low of $65.93 and a 12-month high of $153.07.

Diamondback Energy (NASDAQ:FANGGet Rating) last released its earnings results on Monday, May 2nd. The oil and natural gas company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.44. Diamondback Energy had a net margin of 34.17% and a return on equity of 19.91%. During the same period last year, the business posted $2.30 EPS. On average, equities research analysts forecast that Diamondback Energy will post 24.91 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 23rd. Investors of record on Thursday, May 12th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, May 11th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 1.83%. Diamondback Energy’s dividend payout ratio (DPR) is 18.46%.

In other Diamondback Energy news, Director Michael P. Cross sold 4,000 shares of the firm’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $139.00, for a total value of $556,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Teresa L. Dick sold 2,500 shares of the firm’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $140.03, for a total value of $350,075.00. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock worth $3,319,960 over the last 90 days. 0.47% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of FANG. Voya Investment Management LLC increased its holdings in shares of Diamondback Energy by 136.9% during the third quarter. Voya Investment Management LLC now owns 2,213,030 shares of the oil and natural gas company’s stock valued at $209,508,000 after purchasing an additional 1,279,031 shares during the period. Invesco Ltd. grew its holdings in Diamondback Energy by 38.9% during the fourth quarter. Invesco Ltd. now owns 3,311,337 shares of the oil and natural gas company’s stock worth $357,129,000 after acquiring an additional 927,878 shares during the period. THRC Management LLC acquired a new position in Diamondback Energy during the fourth quarter worth about $86,532,000. State Street Corp grew its holdings in Diamondback Energy by 5.8% during the fourth quarter. State Street Corp now owns 11,173,356 shares of the oil and natural gas company’s stock worth $1,205,046,000 after acquiring an additional 607,766 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Diamondback Energy during the first quarter worth about $73,608,000. 89.97% of the stock is currently owned by institutional investors.

Diamondback Energy Company Profile (Get Rating)

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 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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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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