Weekly Analysts’ Ratings Updates for Diamondback Energy (FANG)

Diamondback Energy (NASDAQ: FANG) recently received a number of ratings updates from brokerages and research firms:

• 10/18/2024 – Diamondback Energy had its “sector outperform” rating reaffirmed by analysts at Wells Fargo & Company.
• 10/18/2024 – Diamondback Energy had its price target lowered by analysts at Susquehanna from $237.00 to $233.00. They now have a “positive” rating on the stock.
• 10/18/2024 – Diamondback Energy had its price target lowered by analysts at Wells Fargo & Company from $219.00 to $218.00. They now have an “overweight” rating on the stock.
• 10/16/2024 – Diamondback Energy had its price target lowered by analysts at KeyCorp from $225.00 to $216.00. They now have an “overweight” rating on the stock.
• 10/16/2024 – Diamondback Energy had its price target raised by analysts at Truist Financial Co. from $220.00 to $230.00. They now have a “buy” rating on the stock.
• 10/15/2024 – Diamondback Energy had its price target raised by analysts at Piper Sandler from $240.00 to $252.00. They now have an “overweight” rating on the stock.
• 10/14/2024 – Diamondback Energy is now covered by analysts at Citigroup Inc.. They set a “neutral” rating and a $195.00 price target on the stock.
• 10/10/2024 – Diamondback Energy had its price target lowered by analysts at Scotiabank from $245.00 to $225.00. They now have a “sector outperform” rating on the stock.
• 10/4/2024 – Diamondback Energy was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $215.00 price target on the stock, up previously from $205.00.
• 10/3/2024 – Diamondback Energy had its price target raised by analysts at Benchmark Co. from $154.00 to $195.00. They now have a “buy” rating on the stock.
• 10/2/2024 – Diamondback Energy is now covered by analysts at JPMorgan Chase & Co.. They set an “overweight” rating and a $182.00 price target on the stock.
• 10/2/2024 – Diamondback Energy was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $210.00 price target on the stock, down previously from $216.00.
• 10/1/2024 – Diamondback Energy had its price target lowered by analysts at Wells Fargo & Company from $230.00 to $219.00. They now have an “overweight” rating on the stock.
• 9/30/2024 – Diamondback Energy had its price target lowered by analysts at Evercore ISI from $235.00 to $209.00. They now have an “outperform” rating on the stock.
• 9/30/2024 – Diamondback Energy had its price target lowered by analysts at Truist Financial Co. from $255.00 to $220.00. They now have a “buy” rating on the stock.
• 9/24/2024 – Diamondback Energy was downgraded by analysts at Johnson Rice from a “strong-buy” rating to a “moderate buy” rating.
• 9/18/2024 – Diamondback Energy had its price target lowered by analysts at UBS Group AG from $247.00 to $223.00. They now have a “buy” rating on the stock.
• 9/17/2024 – Diamondback Energy had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $220.00 price target on the stock.
• 9/16/2024 – Diamondback Energy had its price target raised by analysts at Morgan Stanley from $185.00 to $198.00. They now have an “overweight” rating on the stock.
• 9/16/2024 – Diamondback Energy is now covered by analysts at Jefferies Financial Group Inc.. They set a “hold” rating and a $185.00 price target on the stock.
• 9/4/2024 – Diamondback Energy had its price target lowered by analysts at Susquehanna from $245.00 to $237.00. They now have a “positive” rating on the stock.

Diamondback Energy Trading Down 0.1 %

Shares of NASDAQ FANG opened at $180.91 on Friday. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $185.42 and a 200-day simple moving average of $194.34. The stock has a market capitalization of $32.26 billion, a PE ratio of 10.20, a PEG ratio of 1.22 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the firm posted $3.68 earnings per share. The company’s revenue was up 29.4% on a year-over-year basis. On average, equities analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $2.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s payout ratio is presently 20.29%.

Insider Activity

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FANG. Price T Rowe Associates Inc. MD grew its stake in Diamondback Energy by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares in the last quarter. Boston Partners grew its stake in Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after purchasing an additional 1,916,900 shares in the last quarter. Homestead Advisers Corp acquired a new position in Diamondback Energy during the 1st quarter worth $87,940,000. Bank of New York Mellon Corp grew its stake in Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after purchasing an additional 415,902 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Diamondback Energy by 280.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock worth $109,144,000 after acquiring an additional 402,026 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

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.