Diamondback Energy (FANG) Shares Gap Down to $120.01

Diamondback Energy Inc (NASDAQ:FANG) shares gapped down before the market opened on Thursday . The stock had previously closed at $116.98, but opened at $120.01. Diamondback Energy shares last traded at $119.91, with a volume of 62321 shares traded.

Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Stifel Nicolaus set a $166.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Thursday, July 19th. Williams Capital set a $165.00 price target on shares of Diamondback Energy and gave the stock a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Diamondback Energy from $155.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 1st. Finally, TD Securities set a $175.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Saturday, August 11th. Six investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $152.81.

The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.54. The company has a market cap of $13.29 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 0.66 and a beta of 0.62.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. The firm had revenue of $526.30 million for the quarter, compared to analysts’ expectations of $479.57 million. During the same quarter last year, the firm posted $1.25 EPS. The firm’s quarterly revenue was up 95.4% compared to the same quarter last year. analysts forecast that Diamondback Energy Inc will post 6.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 27th. Shareholders of record on Monday, August 20th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.41%. The ex-dividend date is Friday, August 17th. Diamondback Energy’s payout ratio is currently 9.43%.

In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 832 shares of the business’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $128.46, for a total value of $106,878.72. Following the sale, the vice president now owns 6,897 shares in the company, valued at approximately $885,988.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael L. Hollis sold 5,000 shares of the business’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $128.85, for a total transaction of $644,250.00. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Diamondback Energy by 0.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,707,256 shares of the oil and natural gas company’s stock worth $722,082,000 after purchasing an additional 34,532 shares in the last quarter. BlackRock Inc. lifted its stake in Diamondback Energy by 5.5% in the 1st quarter. BlackRock Inc. now owns 4,993,647 shares of the oil and natural gas company’s stock worth $631,797,000 after purchasing an additional 261,658 shares in the last quarter. Van ECK Associates Corp lifted its stake in Diamondback Energy by 1.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,594,112 shares of the oil and natural gas company’s stock worth $209,737,000 after purchasing an additional 29,280 shares in the last quarter. Bank of America Corp DE lifted its stake in Diamondback Energy by 40.4% in the 2nd quarter. Bank of America Corp DE now owns 926,005 shares of the oil and natural gas company’s stock worth $121,835,000 after purchasing an additional 266,321 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Diamondback Energy by 17.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 733,515 shares of the oil and natural gas company’s stock worth $96,505,000 after purchasing an additional 109,099 shares in the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

About Diamondback Energy (NASDAQ:FANG)

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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