Diamondback Energy (NASDAQ:FANG) Sets New 1-Year High at $199.91

Diamondback Energy, Inc. (NASDAQ:FANGGet Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $199.91 and last traded at $199.91, with a volume of 1379 shares changing hands. The stock had previously closed at $198.17.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Bank Of America (Bofa) lowered their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research note on Thursday, January 18th. KeyCorp increased their target price on Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Susquehanna increased their target price on Diamondback Energy from $190.00 to $195.00 and gave the stock a “positive” rating in a research note on Tuesday, February 13th. Stifel Nicolaus increased their target price on Diamondback Energy from $192.00 to $224.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Evercore ISI increased their target price on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $190.11.

View Our Latest Analysis on Diamondback Energy

Diamondback Energy Trading Up 0.5 %

The business has a fifty day simple moving average of $175.73 and a 200 day simple moving average of $162.84. The stock has a market cap of $35.76 billion, a price-to-earnings ratio of 11.56 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77.

Diamondback Energy (NASDAQ:FANGGet Free Report) last announced its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. Diamondback Energy’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.29 EPS. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 17.93 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were issued a dividend of $3.08 per share. This represents a $12.32 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is 20.76%.

Insiders Place Their Bets

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the transaction, the chief operating officer now owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the transaction, the chief operating officer now owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares in the company, valued at approximately $35,470,003.24. The disclosure for this sale can be found here. Insiders have sold a total of 27,675 shares of company stock valued at $5,311,096 in the last quarter. 0.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new position in shares of Diamondback Energy in the 4th quarter worth $27,000. Hobbs Group Advisors LLC purchased a new position in shares of Diamondback Energy in the 4th quarter worth $27,000. BluePath Capital Management LLC purchased a new position in shares of Diamondback Energy in the 3rd quarter worth $28,000. FinTrust Capital Advisors LLC raised its position in shares of Diamondback Energy by 232.8% in the 4th quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 149 shares during the period. Finally, Logan Capital Management Inc. purchased a new position in shares of Diamondback Energy in the 4th quarter worth $31,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

About Diamondback Energy

(Get Free Report)

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, 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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