Diamondback Energy, Inc. (NASDAQ: FANG) – Research analysts at Capital One Financial increased their FY2022 EPS estimates for shares of Diamondback Energy in a research note released on Tuesday, November 16. Capital One Financial analyst B. Velie now predicts the oil and gas company will post earnings per share of $ 18.71 for the year, up from its previous estimate of $ 17.34. Diamondback Energy (NASDAQ: FANG) last released its results on Sunday, October 31. The oil and gas company reported earnings per share (EPS) of $ 2.94 for the quarter, beating analyst consensus estimates of $ 2.81 by $ 0.13. Diamondback Energy had a net margin of 7.95% and a return on equity of 12.95%. The company posted revenue of $ 1.91 billion for the quarter, compared to a consensus estimate of $ 1.48 billion. During the same period of the previous year, the company posted EPS of $ 0.62. The company’s revenue increased 165.3% compared to the same quarter last year.
A number of other research analysts have also recently published reports on FANG. Mizuho raised his price target for Diamondback Energy shares from $ 127.00 to $ 147.00 and gave the company a “buy” rating in a research report published on Tuesday, October 26. Piper Sandler raised her price target for Diamondback Energy shares from $ 112.00 to $ 131.00 and gave the company an “overweight” rating in a research report released Thursday, October 21. Wells Fargo & Company reiterated a “buy” note on Diamondback Energy shares in a research report on Tuesday, September 14. Scotiabank downgraded Diamondback Energy’s stock rating from “sector outperformance” to “sector performance” and set a price target of $ 125 for the stock. in a research report on Wednesday. They noted that the move was an appraisal call. Finally, Credit Suisse Group increased its price target on Diamondback Energy shares from $ 115 to $ 125 and gave the company an “outperformance” rating in a research report published on Tuesday, November 2. Four equity research analysts rated the stock with a conservation rating, nineteen gave the company a buy rating, and two gave the company a high buy rating. According to MarketBeat data, the stock currently has a consensus rating of “Buy” and a consensus price target of $ 110.00.
Diamondback Energy stock opened at $ 107.96 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.71 and a debt ratio of 0.56. Diamondback Energy has a one-year low at $ 36.46 and a one-year high at $ 117.71. The company has a market cap of $ 19.56 billion, a PE ratio of 56.23, a PEG ratio of 0.45 and a beta of 2.57. The company’s 50-day moving average is $ 101.91 and its two-hundred-day moving average is $ 88.69.
A number of institutional investors have recently changed their positions in the company. NewSquare Capital LLC increased its stake in Diamondback Energy by 1.2% during the 3rd quarter. NewSquare Capital LLC now owns 8,145 shares of the oil and gas company valued at $ 771,000 after purchasing 95 additional shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Diamondback Energy by 8.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,333 shares of the oil and gas company valued at $ 126,000 after purchasing 107 more shares in the last quarter. National Huntington Bank increased its holdings in Diamondback Energy by 52.1% in the third quarter. Huntington National Bank now owns 321 shares of the oil and gas company valued at $ 30,000 after purchasing an additional 110 shares in the last quarter. Horizon Investments LLC increased its stake in Diamondback Energy by 5.0% during the 3rd quarter. Horizon Investments LLC now owns 2,338 shares of the oil and gas company valued at $ 220,000 after purchasing 112 more shares in the last quarter. Finally, Veritable LP increased its stake in Diamondback Energy by 2.7% during the 3rd quarter. Veritable LP now owns 4,439 shares of the oil and gas company valued at $ 420,000 after purchasing 116 more shares in the last quarter. 87.19% of the shares are held by institutional investors and hedge funds.
Meanwhile, Finance Director Hof Matthew Kaes Van’t sold 5,500 shares in a trade that took place on Thursday, November 4. The stock was sold for an average price of $ 111.35, for a total value of $ 612,425.00. The transaction was disclosed in a file with the Securities & Exchange Commission, accessible through this hyperlink. Additionally, CAO Teresa L. Dick sold 2,500 shares in a trade that took place on Friday, November 5th. The shares were sold for an average price of $ 114.51, for a total value of $ 286,275.00. Disclosure of this sale can be found here. Insiders have sold a total of 21,500 shares of the company valued at $ 2,479,105 in the past ninety days. Company insiders own 0.47% of the company’s shares.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 18. Shareholders of record on Thursday, November 11 received a dividend of $ 0.50 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $ 0.45. This represents an annualized dividend of $ 2.00 and a dividend yield of 1.85%. The ex-dividend date was Tuesday, November 9. Diamondback Energy’s dividend payout ratio (DPR) is currently 104.17%.
About Diamondback Energy
Diamondback Energy, Inc. is an independent oil and natural gas company, engaged in the acquisition, development, exploration and exploitation of unconventional oil and natural gas reserves onshore. It operates through the upstream and intermediate service segments. The upstream segment focuses on Permian Basin operations in West Texas.
Read more: What is Average Dollar Cost (DCA)?
This instant news alert was powered by narrative science technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should You Invest $ 1,000 In Diamondback Energy Now?
Before you consider Diamondback Energy, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly asking their clients to buy now before the wider market takes hold … and Diamondback Energy was not on the list.
While Diamondback Energy currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here