Diamondback Energy, Inc. (NASDAQ:FANG) Short Interest Up 12.8% in June

Diamondback Energy, Inc. (NASDAQ:FANG) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 5,900,000 shares, a growth of 12.8% from the May 31st total of 5,230,000 shares. Approximately 3.3% of the company’s shares are sold short. Based on an average daily volume of 1,440,000 shares, the short-interest ratio is currently 4.1 days.

Analysts Set New Price Targets

A number of research analysts have commented on the company. KeyCorp started coverage on Diamondback Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price target for the company. Scotiabank raised their price target on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Bank of America reissued a “neutral” rating and set a $201.00 price objective on shares of Diamondback Energy in a research report on Friday, June 14th. Morgan Stanley decreased their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Finally, Mizuho boosted their price target on shares of Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.35.

Insiders Place Their Bets

In other news, VP Jere W. Thompson III sold 900 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the transaction, the vice president now directly owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total value of $1,182,840.00. Following the sale, the chief operating officer now owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jere W. Thompson III sold 900 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Diamondback Energy

Several large investors have recently bought and sold shares of the business. Confluence Investment Management LLC grew its position in Diamondback Energy by 1.6% during the second quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock valued at $734,000 after buying an additional 58 shares during the period. Sage Mountain Advisors LLC raised its stake in shares of Diamondback Energy by 4.5% in the first quarter. Sage Mountain Advisors LLC now owns 1,420 shares of the oil and natural gas company’s stock worth $281,000 after buying an additional 61 shares during the period. MCF Advisors LLC lifted its position in shares of Diamondback Energy by 8.6% during the 4th quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after buying an additional 67 shares in the last quarter. Meeder Advisory Services Inc. grew its stake in shares of Diamondback Energy by 2.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,612 shares of the oil and natural gas company’s stock valued at $518,000 after acquiring an additional 72 shares during the period. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in Diamondback Energy by 20.8% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 424 shares of the oil and natural gas company’s stock worth $84,000 after acquiring an additional 73 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Up 1.0 %

Diamondback Energy stock traded up $2.03 during mid-day trading on Wednesday, reaching $206.93. The stock had a trading volume of 740,650 shares, compared to its average volume of 1,634,726. The company has a 50-day moving average price of $196.80 and a two-hundred day moving average price of $182.45. The company has a market capitalization of $36.90 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.09 and a beta of 1.90. Diamondback Energy has a one year low of $125.73 and a one year high of $211.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the business earned $4.10 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, analysts expect that Diamondback Energy will post 19.06 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.74%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

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.