Diamondback Energy (NASDAQ:FANG) Releases Earnings Results

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

Diamondback Energy Price Performance

Shares of NASDAQ FANG traded down $1.01 during midday trading on Monday, hitting $155.11. The company had a trading volume of 2,105,982 shares, compared to its average volume of 2,078,408. The firm has a market capitalization of $45.29 billion, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. Diamondback Energy has a twelve month low of $152.00 and a twelve month high of $214.50. The business has a 50-day simple moving average of $165.60 and a two-hundred day simple moving average of $176.57. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

A number of brokerages have issued reports on FANG. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a report on Friday, January 3rd. Wells Fargo & Company boosted their target price 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. Morgan Stanley raised their target price on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Benchmark restated a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, Truist Financial increased their price target on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.