Insider Selling: Diamondback Energy, Inc. (NASDAQ:FANG) Director Sells $208,150.00 in Stock

Diamondback Energy, Inc. (NASDAQ:FANG) Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $176.60 on Friday. The stock has a market capitalization of $51.57 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.30 and a beta of 1.89. The business’s fifty day moving average price is $181.16 and its two-hundred day moving average price is $191.36. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $5.49 earnings per share. As a group, analysts predict that Diamondback Energy, Inc. will post 16.78 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.04%. Diamondback Energy’s dividend payout ratio is 20.61%.

Hedge Funds Weigh In On Diamondback Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its position in Diamondback Energy by 178.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after buying an additional 19,552 shares in the last quarter. Atria Investments Inc lifted its position in shares of Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock worth $7,358,000 after purchasing an additional 6,672 shares in the last quarter. Cullen Investment Group LTD. grew its stake in shares of Diamondback Energy by 33.5% during the third quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after purchasing an additional 3,008 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Diamondback Energy by 2,768.9% in the second quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock valued at $883,000 after purchasing an additional 4,181 shares in the last quarter. Finally, Homestead Advisers Corp bought a new position in Diamondback Energy in the 1st quarter worth approximately $87,940,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on FANG shares. Citigroup initiated coverage on shares of Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target on the stock. UBS Group cut their target price on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Truist Financial boosted their price target on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America increased their price objective on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $205.00 to $215.00 in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $209.64.

About Diamondback Energy

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.