Imperial Capital Lowers Diamondback Energy (NASDAQ:FANG) Price Target to $88.00

Diamondback Energy (NASDAQ:FANG) had its price target cut by Imperial Capital from $100.00 to $88.00 in a report published on Thursday, Briefing.com Automated Import reports. They currently have an outperform rating on the oil and natural gas company’s stock. Imperial Capital also issued estimates for Diamondback Energy’s Q4 2019 earnings at $1.83 EPS, FY2019 earnings at $6.38 EPS, Q1 2020 earnings at $2.21 EPS, Q2 2020 earnings at $2.17 EPS, Q3 2020 earnings at $2.31 EPS and Q4 2020 earnings at $2.48 EPS.

FANG has been the topic of several other research reports. JPMorgan Chase & Co. cut their target price on Diamondback Energy from $152.00 to $139.00 and set an overweight rating on the stock in a research report on Wednesday, October 9th. They noted that the move was a valuation call. BidaskClub upgraded Diamondback Energy from a sell rating to a hold rating in a research report on Wednesday, October 30th. Oppenheimer cut their target price on Diamondback Energy from $151.00 to $138.00 and set an outperform rating on the stock in a research report on Thursday, August 22nd. Morgan Stanley cut their target price on Diamondback Energy from $131.00 to $129.00 and set an overweight rating on the stock in a research report on Monday, October 14th. Finally, TD Securities lowered Diamondback Energy from an action list buy rating to a buy rating and set a $155.00 target price on the stock. in a research report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Diamondback Energy presently has an average rating of Buy and a consensus target price of $141.05.

Shares of Diamondback Energy stock traded down $0.13 during trading on Thursday, reaching $75.43. 2,379,700 shares of the company’s stock were exchanged, compared to its average volume of 1,849,165. The firm’s 50-day moving average price is $86.38 and its 200 day moving average price is $98.30. Diamondback Energy has a 1-year low of $74.25 and a 1-year high of $115.97. The company has a market cap of $14.71 billion, a P/E ratio of 12.85, a PEG ratio of 0.47 and a beta of 0.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.79 and a current ratio of 0.82.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.24). Diamondback Energy had a net margin of 29.59% and a return on equity of 6.09%. The company had revenue of $975.00 million during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $1.67 EPS. The company’s quarterly revenue was up 81.6% on a year-over-year basis. As a group, equities research analysts predict that Diamondback Energy will post 6.75 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 15th will be issued a $0.1875 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.75 annualized dividend and a yield of 0.99%. Diamondback Energy’s payout ratio is currently 12.78%.

In other news, EVP Randall J. Holder sold 3,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $100.00, for a total value of $300,000.00. Following the completion of the sale, the executive vice president now directly owns 11,448 shares of the company’s stock, valued at $1,144,800. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $100.78, for a total value of $201,560.00. Following the completion of the sale, the vice president now directly owns 110,107 shares of the company’s stock, valued at $11,096,583.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,000 shares of company stock worth $1,621,690. Corporate insiders own 0.47% of the company’s stock.

Several institutional investors have recently modified their holdings of FANG. Nuveen Asset Management LLC purchased a new stake in shares of Diamondback Energy in the second quarter worth approximately $303,291,000. BlackRock Inc. increased its position in shares of Diamondback Energy by 4.7% during the second quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock valued at $1,167,931,000 after acquiring an additional 485,647 shares during the last quarter. Balyasny Asset Management LLC increased its position in shares of Diamondback Energy by 14,382.5% during the second quarter. Balyasny Asset Management LLC now owns 468,943 shares of the oil and natural gas company’s stock valued at $51,101,000 after acquiring an additional 465,705 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Diamondback Energy by 47.5% during the second quarter. Point72 Asset Management L.P. now owns 1,406,516 shares of the oil and natural gas company’s stock valued at $153,268,000 after acquiring an additional 453,267 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Diamondback Energy by 43.2% during the second quarter. Bessemer Group Inc. now owns 941,887 shares of the oil and natural gas company’s stock valued at $102,638,000 after acquiring an additional 284,343 shares during the last quarter. 99.27% 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, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

Featured Article: What is a stock split?

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.