Diamondback Energy (NASDAQ:FANG) Shares Up 2.1% – What’s Next?

Diamondback Energy, Inc. (NASDAQ:FANG) rose 2.1% during mid-day trading on Tuesday . The stock traded as high as $146.00 and last traded at $143.55. Approximately 410,402 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 2,425,741 shares. The stock had previously closed at $140.58.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Raymond James lowered their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday. Mizuho increased their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research report on Friday, January 3rd. UBS Group raised their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Truist Financial lifted their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.92.

Diamondback Energy Trading Down 0.5 %

The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market cap of $42.20 billion, a P/E ratio of 8.35, a PEG ratio of 1.24 and a beta of 1.84. The firm’s 50 day moving average is $162.83 and its two-hundred day moving average is $172.36.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.74%. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Insider Activity

In other news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors have recently made changes to their positions in the company. Wintrust Investments LLC bought a new position in Diamondback Energy in the fourth quarter worth approximately $28,000. R Squared Ltd purchased a new position in shares of Diamondback Energy in the 4th quarter worth $29,000. UMB Bank n.a. lifted its holdings in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of Diamondback Energy in the 4th quarter worth about $33,000. Finally, Key Financial Inc lifted its holdings in Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

About Diamondback Energy

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.