Stocks of Diamondback Energy Inc. (NASDAQ:FANG) traded higher last session on Wall Street, up 0.53% to $149.01.
According to the data, Diamondback Energy Inc. (NASDAQ:FANG) has 31 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $222.00 and a low of $140.00, we find $170.00. Given the previous closing price of $148.22, this indicates a potential upside of 14.69 percent. FANG stock price is now 7.03% away from the 50-day moving average and 7.44% away from the 200-day moving average. The market capitalization of the company currently stands at $26.55B.
A total of 4 analysts have issued a hold rating and 24 have given it a buy rating. Brokers who have rated the stock have averaged $173.52 as their price target over the next twelve months.
With the price target of $154, The Benchmark Company recently initiated with Buy rating for Diamondback Energy Inc. (NASDAQ: FANG).
In other news, WEST STEVEN E, Director sold 8,000 shares of the company’s stock on Aug 10. The stock was sold for $1,205,181 at an average price of $150.65. Upon completion of the transaction, the Director now directly owns 5,100 shares in the company, valued at $0.76 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 04, President & CFO Van’t Hof Matthew Kaes sold 9,000 shares of the business’s stock. A total of $1,340,813 was realized by selling the stock at an average price of $148.98. This leaves the insider owning 155,980 shares of the company worth $23.24 million. Insiders disposed of 180,344 shares of company stock worth roughly $26.87 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 WOODLINE PARTNERS LP during the first quarter worth $49,249,000. MEREWETHER INVESTMENT MANAGEMENT, LP invested $28,187,000 in shares of FANG during the first quarter. In the first quarter, ADAMS DIVERSIFIED EQUITY FUND, INC. acquired a new stake in Diamondback Energy Inc. valued at approximately $17,017,000. EVENTIDE ASSET MANAGEMENT, LLC acquired a new stake in FANG for approximately $16,950,000. EA SERIES TRUST purchased a new stake in FANG valued at around $10,680,000 in the second quarter. In total, there are 1,229 active investors with 98.10% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $147.27 for Diamondback Energy Inc. (NASDAQ: FANG). During the past 12 months, Diamondback Energy Inc. has had a low of $108.31 and a high of $164.90. As of last week, the company has a debt-to-equity ratio of 0.42, a current ratio of 0.40, and a quick ratio of 0.40. The fifty day moving average price for FANG is $139.60 and a two-hundred day moving average price translates $139.55 for the stock.
The latest earnings results from Diamondback Energy Inc. (NASDAQ: FANG) was released for Jun, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $3.68, missing analysts’ expectations of $3.9 by -0.22. This compares to $7.93 EPS in the same period last year. The net profit margin was 41.40% and return on equity was 23.00% for FANG. The company reported revenue of $1.92 billion for the quarter, compared to $2.77 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -30.67 percent. For the current quarter, analysts expect FANG to generate $2.02B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/17/2023. Investors who held shares on 08/10/2023 were paid a $0.84 dividend. On an annualized basis, this represents a $6.88 dividend and a 4.62% percent yield. There was an ex-dividend date of 08/09/2023 for this dividend. In terms of dividend payout ratio, FANG is presently at 47.00%.
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. The company also owns, operates, develops, and acquires midstream infrastructure assets, including 770 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.
