The price of Diamondback Energy Inc. (NASDAQ:FANG) shares last traded on Wall Street fell -2.69% to $132.88.
Based on available information, 32 analysts follow Diamondback Energy Inc. (NASDAQ:FANG). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $230.00 and a low of $143.00, we find $175.50. Given the previous closing price of $136.56, this indicates a potential upside of 28.51 percent. FANG stock price is now -9.71% away from the 50-day moving average and 0.11% away from the 200-day moving average. The market capitalization of the company currently stands at $23.26B.
Among analysts, 3 rate the stock a hold while 23 rate it a buy. Brokers who have rated the stock have averaged $182.67 as their price target over the next twelve months.
With the price target maintained at $210, Johnson Rice recently Upgraded its rating from Accumulate to Buy for Diamondback Energy Inc. (NASDAQ: FANG). On November 28, 2022, BofA Securities Downgraded its previous ‘Neutral’ rating to ‘Underperform’ on the stock keeping its target price maintained at $143, while ‘Jefferies’ rates the stock as ‘Hold’.
In other news, Van’t Hof Matthew Kaes, President & CFO sold 6,000 shares of the company’s stock on Jun 07. The stock was sold for $960,000 at an average price of $160.00. Upon completion of the transaction, the President & CFO now directly owns 61,334 shares in the company, valued at $8.15 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 27, Chief Executive Officer Stice Travis D. sold 30,000 shares of the business’s stock. A total of $4,500,303 was realized by selling the stock at an average price of $150.01. This leaves the insider owning 428,497 shares of the company worth $56.94 million. Insiders disposed of 156,368 shares of company stock worth roughly $20.78 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FANG stock. A new stake in Diamondback Energy Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $184,891,000. YACKTMAN ASSET MANAGEMENT LP invested $167,696,000 in shares of FANG during the first quarter. In the first quarter, ALUA CAPITAL MANAGEMENT LP acquired a new stake in Diamondback Energy Inc. valued at approximately $28,457,000. POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in FANG for approximately $25,181,000. TODD ASSET MANAGEMENT LLC purchased a new stake in FANG valued at around $20,365,000 in the second quarter. In total, there are 1,198 active investors with 98.10% ownership of the company’s stock.
A candlestick chart of Diamondback Energy Inc. (NASDAQ: FANG) showed a price of $140.33 on Thursday morning. During the past 12 months, Diamondback Energy Inc. has had a low of $90.86 and a high of $167.42. As of last week, the company has a debt-to-equity ratio of 0.39, a current ratio of 0.60, and a quick ratio of 0.60. The fifty day moving average price for FANG is $148.10 and a two-hundred day moving average price translates $135.85 for the stock.
The latest earnings results from Diamondback Energy Inc. (NASDAQ: FANG) was released for Jun, 2022. According to the Oil & Gas E&P Company, earnings per share came in at $7.07, beating analysts’ expectations of $6.58 by 0.49. This compares to $3.55 EPS in the same period last year. The net profit margin was 42.80% and return on equity was 31.70% for FANG. The company reported revenue of $2.44 billion for the quarter, compared to $1.91 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 27.59 percent. For the current quarter, analysts expect FANG to generate $2.37B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/25/2022. Investors who held shares on 11/17/2022 were paid a $2.26 dividend. On an annualized basis, this represents a $3.00 dividend and a 2.26% percent yield. There was an ex-dividend date of 11/16/2022 for this dividend. In terms of dividend payout ratio, FANG is presently at 11.30%.
Diamondback Energy Inc.(FANG) 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 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. As of December 31, 2021, the company’s total acreage position was approximately 524,700 gross acres in the Permian Basin; and estimated proved oil and natural gas reserves were 1,788,991 thousand barrels of crude oil equivalent. It also held working interests in 5,289 gross producing wells, as well as royalty interests in 6,455 additional wells. In addition, the company owns mineral interests approximately 930,871 gross acres and 27,027 net royalty acres in the Permian Basin and Eagle Ford Shale; and owns, operates, develops, and acquires midstream infrastructure assets, including 866 miles of crude oil gathering pipelines, natural gas gathering pipelines, and an integrated water system in the Midland and Delaware Basins of the Permian Basin. Diamondback Energy, Inc. was founded in 2007 and is headquartered in Midland, Texas.