Diamondback Energy, Inc. (NASDAQ: FANG – Get a rating) – Capital One Financial investment analysts raised their fiscal 2022 earnings per share (EPS) estimates for Diamondback Energy in a research note released to investors on Wednesday, May 4. Capital One Financial analyst B. Velie now expects the oil and gas company to post earnings of $22.32 per share for the year, up from its previous forecast of $22.06.
Diamondback Energy (NASDAQ: FANG – Get a rating) last released its quarterly results on Monday, May 2. The oil and gas company reported earnings per share of $5.20 for the quarter, beating the consensus estimate of $4.76 by $0.44. Diamondback Energy had a return on equity of 20.44% and a net margin of 34.17%. During the same period a year earlier, the company posted EPS of $2.30.
A number of other stock analysts have also weighed in on the company recently. StockNews.com launched coverage on Diamondback Energy in a report on Thursday, March 31. They set a “buy” rating on the stock. Royal Bank of Canada raised its price target on Diamondback Energy from $150.00 to $160.00 in a Thursday, February 24 report. Susquehanna raised its price target on Diamondback Energy from $152.00 to $167.00 and gave the company a “positive” rating in a Monday, April 25 report. Credit Suisse Group raised its price target on Diamondback Energy from $138.00 to $140.00 and gave the company an “outperform” rating in a Wednesday, February 23 report. Finally, Truist Financial raised its price target on Diamondback Energy from $170.00 to $200.00 in a Thursday, April 21 report. Five investment analysts gave the stock a hold rating, fourteen gave the company a buy rating and one gave the company a high buy rating. According to MarketBeat.com, Diamondback Energy has an average buy rating and an average target price of $160.58.
Shares of NASDAQ FANG opened at $142.49 on Thursday. The stock has a market capitalization of $25.30 billion, a price/earnings ratio of 9.39, a P/E/G ratio of 0.24 and a beta of 2.20. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt ratio of 0.50. Diamondback Energy has a 1 year minimum of $65.93 and a 1 year maximum of $147.99. The stock’s 50-day moving average is $135.28 and its 200-day moving average is $122.79.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 23. Shareholders of record on Thursday, May 12 will receive a dividend of $0.70. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.60. This represents a dividend of $2.80 on an annualized basis and a dividend yield of 1.97%. The ex-date of this dividend is Wednesday, May 11. Diamondback Energy’s dividend payout ratio (DPR) is currently 15.82%.
In related news, Vice Chairman Thomas F. Hawkins sold 8,000 shares of Diamondback Energy in a trade that took place on Wednesday, March 2. The stock was sold at an average price of $137.68, for a total transaction of $1,101,440.00. The transaction was disclosed in a document filed with the SEC, accessible via this link. Additionally, CAO Teresa L. Dick sold 2,500 shares of Diamondback Energy in a trade that took place on Monday, March 21. The shares were sold at an average price of $140.03, for a total value of $350,075.00. Disclosure of this sale can be found here. During the last quarter, insiders sold 24,000 shares of the company worth $3,319,960. Company insiders own 0.47% of the company’s shares.
Several hedge funds and other institutional investors have recently increased or reduced their stake in FANG. Voya Investment Management LLC increased its position in Diamondback Energy shares by 136.9% during the third quarter. Voya Investment Management LLC now owns 2,213,030 shares of the oil and gas company valued at $209,508,000 after buying an additional 1,279,031 shares last quarter. Invesco Ltd. increased its holdings in Diamondback Energy by 38.9% in the fourth quarter. Invesco Ltd. now owns 3,311,337 shares of the oil and gas company worth $357,129,000 after acquiring an additional 927,878 shares last quarter. THRC Management LLC purchased a new stake in Diamondback Energy in the fourth quarter valued at $86,532,000. State Street Corp increased its stake in Diamondback Energy by 5.8% in the fourth quarter. State Street Corp now owns 11,173,356 shares of the oil and gas company worth $1,205,046,000 after acquiring an additional 607,766 shares last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Diamondback Energy to 990.8% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 505,677 shares of the oil and gas company worth $54,537,000 after acquiring 459,318 additional shares in the last quarter. Institutional investors hold 89.97% of the company’s shares.
Diamondback Energy Company Profile (Get a rating)
Diamondback Energy, Inc, an independent oil and gas company, is focused on the acquisition, development, exploration and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin of western Texas. It covers 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 western Texas and New Mexico.
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