Matt Zmigrosky Sells 5,000 Shares of Diamondback Energy (NASDAQ:FANG) Stock

Diamondback Energy, Inc. (NASDAQ:FANG) EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $200.10, for a total transaction of $1,000,500.00. Following the transaction, the executive vice president owned 51,392 shares in the company, valued at $10,283,539.20. This trade represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Matt Zmigrosky also recently made the following trade(s):

• On Wednesday, March 18th, Matt Zmigrosky sold 4,101 shares of Diamondback Energy stock. The shares were sold at an average price of $190.51, for a total transaction of $781,281.51.
• On Friday, March 13th, Matt Zmigrosky sold 20,899 shares of Diamondback Energy stock. The shares were sold at an average price of $180.00, for a total transaction of $3,761,820.00.

Diamondback Energy Trading Up 1.6%

NASDAQ FANG opened at $203.56 on Friday. Diamondback Energy, Inc. has a 12 month low of $132.20 and a 12 month high of $214.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The company has a market capitalization of $57.26 billion, a price-to-earnings ratio of 236.70 and a beta of 0.46. The company’s fifty day moving average price is $191.72 and its two-hundred day moving average price is $167.76.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.54 EPS. As a group, research analysts predict that Diamondback Energy, Inc. will post 19.04 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, May 14th. Diamondback Energy’s dividend payout ratio is currently 511.63%.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research reports. TD Cowen raised shares of Diamondback Energy to a “strong-buy” rating in a report on Monday, February 9th. Piper Sandler increased their target price on shares of Diamondback Energy from $215.00 to $248.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Scotiabank increased their target price on shares of Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Jefferies Financial Group reissued a “hold” rating and set a $173.00 target price on shares of Diamondback Energy in a report on Monday, January 19th. Finally, Barclays increased their target price on shares of Diamondback Energy from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $218.25.

Hedge Funds Weigh In On Diamondback Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Deseret Mutual Benefit Administrators grew its position in Diamondback Energy by 31.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock valued at $41,000 after buying an additional 66 shares in the last quarter. Scotia Capital Inc. grew its position in Diamondback Energy by 0.3% in the 3rd quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock valued at $2,822,000 after buying an additional 68 shares in the last quarter. Equitable Trust Co. grew its position in Diamondback Energy by 0.7% in the 3rd quarter. Equitable Trust Co. now owns 10,030 shares of the oil and natural gas company’s stock valued at $1,435,000 after buying an additional 73 shares in the last quarter. Valeo Financial Advisors LLC grew its position in Diamondback Energy by 3.0% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,568 shares of the oil and natural gas company’s stock valued at $367,000 after buying an additional 74 shares in the last quarter. Finally, Townsend & Associates Inc grew its position in Diamondback Energy by 0.5% in the 4th quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock valued at $2,161,000 after buying an additional 75 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.