Diamondback Energy (NASDAQ:FANG) Issues Earnings Results

Diamondback Energy (NASDAQ:FANG) released its earnings results on Monday. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07, Zacks reports. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $155.23 on Tuesday. The company’s 50-day moving average is $165.52 and its 200 day moving average is $176.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a market capitalization of $45.33 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. Diamondback Energy has a fifty-two week low of $152.00 and a fifty-two week high of $214.50.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be issued a $1.00 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.58%. Diamondback Energy’s payout ratio is 20.61%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FANG. Raymond James increased their target price on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, Truist Financial boosted their price target on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.22.

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.