Insider Selling: Diamondback Energy (NASDAQ:FANG) Director Sells $15,323,250.00 in Stock

Diamondback Energy, Inc. (NASDAQ:FANG) Director Travis Stice sold 75,000 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $204.31, for a total transaction of $15,323,250.00. Following the sale, the director owned 49,727 shares in the company, valued at approximately $10,159,723.37. This trade represents a 60.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Diamondback Energy Stock Down 8.0%

NASDAQ:FANG opened at $194.54 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. The firm’s 50-day moving average price is $199.21 and its 200-day moving average price is $193.61. The company has a market capitalization of $54.48 billion, a PE ratio of 37.92 and a beta of 0.43. Diamondback Energy, Inc. has a 1-year low of $136.13 and a 1-year high of $216.90.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. Diamondback Energy’s revenue was up 51.2% on a year-over-year basis. During the same period last year, the company posted $2.38 EPS. On average, equities analysts predict that Diamondback Energy, Inc. will post 19.94 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy’s payout ratio is currently 85.77%.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of analyst reports. Wolfe Research reaffirmed an “outperform” rating and set a $206.00 price objective on shares of Diamondback Energy in a research report on Tuesday, August 4th. UBS Group increased their target price on Diamondback Energy from $243.00 to $253.00 and gave the stock a “buy” rating in a research note on Monday. Roth Capital set a $212.00 price target on Diamondback Energy and gave the company a “buy” rating in a report on Monday, June 22nd. Truist Financial upped their price target on shares of Diamondback Energy from $220.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Mizuho increased their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Four analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $224.55.

Key Diamondback Energy News

Here are the key news stories impacting Diamondback Energy this week:

• Positive Sentiment: Diamondback’s strong operating results remain a longer-term support: its latest quarterly earnings and revenue exceeded analyst expectations, with revenue increasing 51.2% year over year. The company also maintains a quarterly dividend of $1.10 per share. Here’s Why Diamondback Energy Is a Strong Growth Stock
• Positive Sentiment: Analyst sentiment remains favorable. UBS initiated or reiterated a Buy rating, while the broader analyst consensus is Moderate Buy with an average price target above the recent trading level. Diamondback Receives a Buy from UBS

Institutional Trading of Diamondback Energy

Institutional investors have recently made changes to their positions in the stock. Cedar Mountain Advisors LLC bought a new position in Diamondback Energy during the first quarter valued at approximately $26,000. Wellington Shields & Co. LLC grew its position in Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after purchasing an additional 135 shares during the period. Meeder Asset Management Inc. purchased a new stake in Diamondback Energy during the 2nd quarter valued at $28,000. Lloyd Advisory Services LLC. purchased a new stake in Diamondback Energy during the 4th quarter valued at $31,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Diamondback Energy during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico. The company’s operations are concentrated primarily in the Midland and Delaware sub-basins.

Diamondback produces crude oil, natural gas and natural gas liquids. Its activities include drilling and completing horizontal wells, operating gathering and infrastructure assets, and managing mineral and royalty interests through its Viper Energy platform.