Diamondback Energy (NASDAQ:FANG) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Diamondback Energy (NASDAQ:FANG) in a research report report published on Monday morning, Marketbeat reports. The brokerage issued a hold rating and a $185.00 target price on the oil and natural gas company’s stock.

Several other analysts have also recently issued reports on FANG. Wolfe Research initiated coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They issued a peer perform rating on the stock. Sanford C. Bernstein cut their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an outperform rating on the stock in a report on Wednesday, July 17th. StockNews.com lowered shares of Diamondback Energy from a buy rating to a hold rating in a report on Saturday, July 6th. Truist Financial raised their target price on shares of Diamondback Energy from $249.00 to $255.00 and gave the stock a buy rating in a research report on Wednesday, August 7th. Finally, Susquehanna lowered their price target on shares of Diamondback Energy from $245.00 to $237.00 and set a positive rating for the company in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of Moderate Buy and an average price target of $210.86.

Diamondback Energy Price Performance

FANG stock opened at $174.81 on Monday. The firm has a market cap of $31.18 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.06 and a beta of 1.89. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. Diamondback Energy has a 12-month low of $143.08 and a 12-month high of $214.50. The company’s fifty day simple moving average is $194.20 and its 200 day simple moving average is $195.81.

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

Diamondback Energy Increases Dividend

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

Institutional Trading of Diamondback Energy

Several institutional investors have recently modified their holdings of FANG. QRG Capital Management Inc. increased its stake in Diamondback Energy by 19.7% in the 4th quarter. QRG Capital Management Inc. now owns 2,085 shares of the oil and natural gas company’s stock valued at $323,000 after buying an additional 343 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Diamondback Energy by 16.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,710 shares of the oil and natural gas company’s stock valued at $1,041,000 after acquiring an additional 941 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Diamondback Energy by 3.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,004 shares of the oil and natural gas company’s stock valued at $776,000 after acquiring an additional 169 shares during the last quarter. Beacon Pointe Advisors LLC increased its stake in shares of Diamondback Energy by 18.5% during the 4th quarter. Beacon Pointe Advisors LLC now owns 7,021 shares of the oil and natural gas company’s stock valued at $1,089,000 after acquiring an additional 1,097 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its stake in shares of Diamondback Energy by 25.5% during the 4th quarter. Panagora Asset Management Inc. now owns 11,638 shares of the oil and natural gas company’s stock valued at $1,805,000 after acquiring an additional 2,362 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Company Profile

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.