Diamondback Energy (FANG) Sets New 12-Month Low at $103.51

Diamondback Energy Inc (NASDAQ:FANG)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $103.51 and last traded at $105.20, with a volume of 75527 shares trading hands. The stock had previously closed at $109.23.

Several equities analysts have issued reports on the company. Oppenheimer assumed coverage on Diamondback Energy in a research report on Wednesday, October 3rd. They issued an “outperform” rating and a $166.00 price objective for the company. BidaskClub upgraded Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 5th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Diamondback Energy in a research report on Friday, September 28th. TD Securities set a $175.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Saturday, August 11th. Finally, ValuEngine upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Five analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $158.63.

The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The company has a market cap of $11.06 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 0.63 and a beta of 0.70.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.15. Diamondback Energy had a return on equity of 10.75% and a net margin of 33.63%. The business had revenue of $538.03 million during the quarter, compared to analysts’ expectations of $518.32 million. During the same period in the previous year, the firm earned $1.33 earnings per share. The firm’s quarterly revenue was up 78.6% compared to the same quarter last year. On average, equities research analysts anticipate that Diamondback Energy Inc will post 6.62 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Monday, November 19th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, November 16th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.48%. Diamondback Energy’s dividend payout ratio (DPR) is presently 9.43%.

In related news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total transaction of $255,600.00. Following the completion of the sale, the vice president now directly owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of FANG. Point72 Hong Kong Ltd bought a new position in Diamondback Energy during the third quarter worth about $100,000. Bray Capital Advisors bought a new position in Diamondback Energy during the third quarter worth about $116,000. First Hawaiian Bank bought a new position in Diamondback Energy during the third quarter worth about $121,000. Captrust Financial Advisors lifted its holdings in Diamondback Energy by 99.8% during the second quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock worth $131,000 after acquiring an additional 497 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Diamondback Energy by 93.5% during the third quarter. Tower Research Capital LLC TRC now owns 1,217 shares of the oil and natural gas company’s stock worth $165,000 after acquiring an additional 588 shares in the last quarter.

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Diamondback Energy Company Profile (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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