Diamondback Energy (NASDAQ:FANG) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Diamondback Energy (NASDAQ:FANG) in a report published on Tuesday morning, Benzinga reports. The firm currently has a $220.00 target price on the oil and natural gas company’s stock.

Several other research analysts have also recently issued reports on FANG. UBS Group increased their target price on shares of Diamondback Energy from $245.00 to $247.00 and gave the stock a buy rating in a report on Tuesday, August 20th. Benchmark reiterated a buy rating and set a $154.00 target price on shares of Diamondback Energy in a report on Tuesday, August 6th. Barclays raised their price target on shares of Diamondback Energy from $214.00 to $216.00 and gave the company an equal weight rating in a report on Wednesday, August 7th. Morgan Stanley raised their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an overweight rating in a report on Monday. Finally, Scotiabank lowered their price target on shares of Diamondback Energy from $255.00 to $245.00 and set a sector outperform rating on the stock in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $209.71.

Diamondback Energy Trading Up 2.0 %

NASDAQ FANG opened at $181.63 on Tuesday. The company has a current ratio of 3.66, a quick ratio of 3.64 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 50-day moving average price is $192.75 and its 200-day moving average price is $195.55. The stock has a market cap of $32.39 billion, a PE ratio of 10.24, a PEG ratio of 1.06 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (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 for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the business earned $3.68 EPS. The firm’s quarterly revenue was up 29.4% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

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

Hedge Funds Weigh In On Diamondback Energy

A number of institutional investors have recently bought and sold shares of FANG. Founders Capital Management raised its position in Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after buying an additional 101 shares during the last quarter. First Community Trust NA acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth approximately $26,000. Carolinas Wealth Consulting LLC grew its stake in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Logan Capital Management Inc. acquired a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $31,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth approximately $40,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.