Insider Selling: Diamondback Energy, Inc. (NASDAQ:FANG) Director Sells 1,150 Shares of Stock

Diamondback Energy, Inc. (NASDAQ:FANG) Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Diamondback Energy Trading Down 1.1 %

FANG stock traded down $1.93 during mid-day trading on Friday, hitting $180.49. 293,108 shares of the company were exchanged, compared to its average volume of 1,744,645. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The business has a fifty day simple moving average of $181.23 and a 200-day simple moving average of $191.63. The firm has a market capitalization of $52.70 billion, a P/E ratio of 10.49, a PEG ratio of 1.30 and a beta of 1.89. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

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

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a $0.90 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.99%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Hedge Funds Weigh In On Diamondback Energy

Several hedge funds have recently bought and sold shares of the company. Quent Capital LLC lifted its holdings in shares of Diamondback Energy by 7.2% in the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after purchasing an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its position in shares of Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Financial Advocates Investment Management boosted its stake in shares of Diamondback Energy by 3.0% during the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after acquiring an additional 55 shares during the last quarter. Sugarloaf Wealth Management LLC increased its position in Diamondback Energy by 0.3% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after purchasing an additional 56 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Diamondback Energy by 16.1% in the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after purchasing an additional 57 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. KeyCorp dropped their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Truist Financial lifted their price objective on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Susquehanna dropped their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Finally, Benchmark reaffirmed a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $209.64.

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.