Diamondback Energy (NASDAQ:FANG) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy (NASDAQ:FANG) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $182.00 price target on the oil and natural gas company’s stock.

Other research analysts have also recently issued reports about the stock. Benchmark reaffirmed a buy rating and set a $154.00 target price on shares of Diamondback Energy in a report on Tuesday, August 6th. KeyCorp initiated coverage on Diamondback Energy in a research note on Thursday, June 27th. They set an overweight rating and a $225.00 price objective on the stock. Jefferies Financial Group began coverage on Diamondback Energy in a research report on Monday, September 16th. They set a hold rating and a $185.00 target price for the company. Johnson Rice cut Diamondback Energy from a strong-buy rating to a moderate buy rating in a research report on Tuesday, September 24th. Finally, Evercore ISI cut their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an outperform rating for the company in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $209.50.

Diamondback Energy Stock Performance

FANG opened at $194.61 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The business has a fifty day simple moving average of $187.40 and a 200 day simple moving average of $195.23. Diamondback Energy has a 1 year low of $143.08 and a 1 year high of $214.50. The company has a market capitalization of $34.71 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the business posted $3.68 earnings per share. Diamondback Energy’s quarterly revenue was up 29.4% on a year-over-year basis. Research analysts expect that Diamondback Energy will post 18.97 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $2.34 per share. This represents a dividend yield of 1.9%. The ex-dividend date was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s payout ratio is 20.29%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

A number of institutional investors have recently modified their holdings of the company. Founders Capital Management increased its holdings in Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 101 shares in the last quarter. First Community Trust NA acquired a new position in shares of Diamondback Energy during the 2nd quarter valued at $26,000. Carolinas Wealth Consulting LLC boosted its stake in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Logan Capital Management Inc. acquired a new stake in Diamondback Energy in the fourth quarter worth $31,000. Finally, HHM Wealth Advisors LLC bought a new stake in Diamondback Energy in the second quarter valued at $40,000. 90.01% of the stock is owned by institutional investors.

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.