Diamondback Energy (NASDAQ:FANG) Given New $88.00 Price Target at Imperial Capital

Diamondback Energy (NASDAQ:FANG) had its price objective lowered by Imperial Capital from $100.00 to $88.00 in a report issued on Thursday morning, Briefing.com Automated Import reports. The firm currently has 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 subject of several other research reports. SunTrust Banks dropped their price objective on Diamondback Energy from $145.00 to $125.00 and set a buy rating for the company in a research note on Wednesday, October 16th. Citigroup dropped their price objective on Diamondback Energy from $135.00 to $118.00 and set a buy rating for the company in a research note on Monday, September 23rd. KeyCorp dropped their price objective on Diamondback Energy from $133.00 to $125.00 and set an overweight rating for the company in a research note on Tuesday, October 15th. Morgan Stanley dropped their price objective on Diamondback Energy from $131.00 to $129.00 and set an overweight rating for the company in a research note on Monday, October 14th. Finally, TheStreet lowered Diamondback Energy from a b- rating to a c+ rating in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $141.05.

NASDAQ:FANG traded down $0.13 on Thursday, hitting $75.43. The stock had a trading volume of 2,379,700 shares, compared to its average volume of 1,849,165. Diamondback Energy has a 52 week low of $74.25 and a 52 week high of $115.97. The business’s fifty day moving average is $86.38 and its 200 day moving average is $98.30. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.29. The company has a market cap of $14.71 billion, a PE ratio of 12.85, a P/E/G ratio of 0.47 and a beta of 0.78.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 EPS for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.24). The company had revenue of $975.00 million during the quarter, compared to the consensus estimate of $1.04 billion. Diamondback Energy had a return on equity of 6.09% and a net margin of 29.59%. Diamondback Energy’s revenue was up 81.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.67 earnings per share. Equities analysts predict that Diamondback Energy will post 6.75 earnings per share for the current fiscal 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 given a dividend of $0.1875 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.75 dividend on an annualized basis and a yield of 0.99%. Diamondback Energy’s payout ratio is 12.78%.

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In other news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $100.78, for a total value of $201,560.00. Following the transaction, the vice president now owns 110,107 shares in the company, valued at $11,096,583.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Randall J. Holder sold 3,000 shares of Diamondback Energy stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $103.21, for a total value of $309,630.00. Following the completion of the transaction, the executive vice president now owns 8,448 shares in the company, valued at approximately $871,918.08. The disclosure for this sale can be found here. Insiders have sold 16,000 shares of company stock worth $1,621,690 in the last 90 days. Company insiders own 0.47% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goelzer Investment Management Inc. increased its holdings in shares of Diamondback Energy by 0.9% in the third quarter. Goelzer Investment Management Inc. now owns 19,512 shares of the oil and natural gas company’s stock worth $1,754,000 after buying an additional 178 shares during the period. Violich Capital Management Inc. increased its holdings in shares of Diamondback Energy by 47.5% in the third quarter. Violich Capital Management Inc. now owns 5,900 shares of the oil and natural gas company’s stock worth $530,000 after buying an additional 1,900 shares during the period. Corient Capital Partners LLC increased its holdings in shares of Diamondback Energy by 6.9% in the third quarter. Corient Capital Partners LLC now owns 2,274 shares of the oil and natural gas company’s stock worth $204,000 after buying an additional 146 shares during the period. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of Diamondback Energy by 5.7% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 6,209 shares of the oil and natural gas company’s stock worth $558,000 after buying an additional 337 shares during the period. Finally, D.A. Davidson & CO. purchased a new position in shares of Diamondback Energy in the third quarter worth about $291,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

About Diamondback Energy

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.

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Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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