Diamondback Energy (NASDAQ:FANG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Diamondback Energy (NASDAQ:FANG) from a hold rating to a buy rating in a research report report published on Sunday morning,Wall Street Zen reports.

Other analysts have also issued reports about the stock. UBS Group decreased their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Seaport Research Partners assumed coverage on shares of Diamondback Energy in a research report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Weiss Ratings upgraded shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Susquehanna increased their target price on shares of Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Finally, Citigroup lowered their target price on shares of Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus target price of $224.55.

Diamondback Energy Trading Up 2.8%

FANG opened at $211.52 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The firm has a market cap of $59.23 billion, a price-to-earnings ratio of 41.23 and a beta of 0.43. Diamondback Energy has a 12 month low of $135.59 and a 12 month high of $216.90. The stock has a fifty day moving average price of $199.05 and a 200-day moving average price of $193.42.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The company had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the company earned $2.38 earnings per share. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Diamondback Energy will post 19.94 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were paid a dividend of $1.10 per share. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. Diamondback Energy’s payout ratio is presently 85.77%.

Insider Activity

In related news, Director Charles Meloy sold 33,333 shares of Diamondback Energy stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $198.41, for a total value of $6,613,600.53. Following the completion of the sale, the director directly owned 818,197 shares in the company, valued at $162,338,466.77. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis D. Stice sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $204.31, for a total transaction of $15,323,250.00. Following the sale, the director directly owned 49,727 shares in the company, valued at approximately $10,159,723.37. This represents a 60.13% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Talon Private Wealth LLC grew its holdings in shares of Diamondback Energy by 19.8% in the second quarter. Talon Private Wealth LLC now owns 12,075 shares of the oil and natural gas company’s stock valued at $2,122,000 after purchasing an additional 1,993 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Diamondback Energy by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 150,826 shares of the oil and natural gas company’s stock worth $26,512,000 after buying an additional 4,686 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Diamondback Energy by 3.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,686 shares of the oil and natural gas company’s stock valued at $1,351,000 after buying an additional 259 shares during the period. MCF Advisors LLC boosted its position in Diamondback Energy by 11.6% in the 2nd quarter. MCF Advisors LLC now owns 1,987 shares of the oil and natural gas company’s stock valued at $349,000 after buying an additional 207 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Diamondback Energy by 43.3% in the second quarter. Allworth Financial LP now owns 11,812 shares of the oil and natural gas company’s stock worth $2,076,000 after acquiring an additional 3,568 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Trending Headlines about Diamondback Energy

Here are the key news stories impacting Diamondback Energy this week:

• Positive Sentiment: UBS initiated or reiterated a Buy rating on Diamondback Energy, adding to an already favorable analyst outlook. The stock carries a “Moderate Buy” consensus rating, with an average price target above its recent trading level. Diamondback Receives a Buy from UBS
• Positive Sentiment: Diamondback’s latest quarterly results provide fundamental support: EPS of $6.48 exceeded the $6.08 consensus estimate, while revenue of $5.56 billion topped the $4.89 billion forecast. Earnings also rose sharply from the prior-year period.
• Neutral Sentiment: A Zacks industry outlook highlighted Diamondback alongside W&T Offshore and APA. The company remains focused on efficient oil and natural-gas production from high-quality Permian Basin assets, leaving its outlook sensitive to commodity prices. Zacks Industry Outlook W&T Offshore, APA and Diamondback
• Negative Sentiment: Director Travis Stice sold 75,000 shares for approximately $15.3 million at an average price of $204.31, reducing his direct ownership by about 60%. Although insider sales may reflect personal financial planning, the sizable transaction could weigh modestly on sentiment. Diamondback Director Sells 75,000 Shares

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico. The company’s operations are concentrated primarily in the Midland and Delaware sub-basins.

Diamondback produces crude oil, natural gas and natural gas liquids. Its activities include drilling and completing horizontal wells, operating gathering and infrastructure assets, and managing mineral and royalty interests through its Viper Energy platform.