Diamondback Energy (NASDAQ:FANG) had its target price decreased by JPMorgan Chase & Co. from $156.00 to $153.00 in a research note issued to investors on Tuesday morning. JPMorgan Chase & Co. currently has an overweight rating on the oil and natural gas company’s stock.
Other research analysts also recently issued research reports about the stock. Piper Jaffray Companies reaffirmed a buy rating and issued a $141.00 price target on shares of Diamondback Energy in a research note on Friday, April 6th. Morgan Stanley reduced their price target on shares of Diamondback Energy to $164.00 and set an overweight rating on the stock in a research note on Wednesday, February 7th. B. Riley began coverage on shares of Diamondback Energy in a research note on Monday, February 5th. They issued a neutral rating and a $150.00 price target on the stock. Stifel Nicolaus set a $169.00 price target on shares of Diamondback Energy and gave the stock a buy rating in a research note on Tuesday, April 10th. Finally, Northland Securities set a $140.00 price target on shares of Diamondback Energy and gave the stock a buy rating in a research note on Wednesday, February 14th. Three equities research 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 company has a consensus rating of Buy and a consensus price target of $142.08.
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Diamondback Energy opened at $120.35 on Tuesday, Marketbeat reports. The stock has a market capitalization of $12.78 billion, a PE ratio of 22.71, a PEG ratio of 0.71 and a beta of 0.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.53 and a quick ratio of 0.52. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $138.14.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, May 8th. The oil and natural gas company reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.05. The company 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 firm’s revenue was up 104.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 EPS. research analysts forecast that Diamondback Energy will post 6.56 EPS for the current year.
The company also recently disclosed a special dividend, which will be paid on Tuesday, May 29th. Stockholders of record on Monday, May 21st will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, May 18th. Diamondback Energy’s payout ratio is currently 9.43%.
In other news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $137.00, for a total value of $274,000.00. Following the transaction, the vice president now owns 91,532 shares of the company’s stock, valued at approximately $12,539,884. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Teresa L. Dick sold 2,500 shares of Diamondback Energy stock in a transaction that occurred on Monday, March 5th. The stock was 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 sold 10,000 shares of company stock worth $1,300,275. Insiders own 0.57% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Next Century Growth Investors LLC purchased a new position in shares of Diamondback Energy in the 1st quarter worth approximately $121,000. ClariVest Asset Management LLC grew its position in shares of Diamondback Energy by 14,557.1% in the 1st quarter. ClariVest Asset Management LLC now owns 1,026 shares of the oil and natural gas company’s stock worth $130,000 after buying an additional 1,019 shares during the last quarter. Signaturefd LLC purchased a new position in shares of Diamondback Energy in the 1st quarter worth approximately $132,000. Zions Bancorporation purchased a new position in shares of Diamondback Energy in the 1st quarter worth approximately $136,000. Finally, Captrust Financial Advisors purchased a new position in shares of Diamondback Energy in the 4th quarter worth approximately $149,000.
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.
