Diamondback Energy (NASDAQ:FANG) Director Sells $6,124,605.42 in Stock

Diamondback Energy, Inc. (NASDAQ:FANG) Director Charles Meloy sold 33,333 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $183.74, for a total transaction of $6,124,605.42. Following the transaction, the director directly owned 759,864 shares in the company, valued at $139,617,411.36. This trade represents a 4.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Charles Alvin Meloy also recently made the following trade(s):

• On Monday, August 3rd, Charles Meloy sold 33,333 shares of Diamondback Energy stock. The stock was sold at an average price of $198.41, for a total value of $6,613,600.53.

Diamondback Energy Stock Up 0.2%

FANG stock opened at $192.13 on Friday. The stock has a fifty day moving average of $196.52 and a 200-day moving average of $194.21. Diamondback Energy, Inc. has a fifty-two week low of $137.03 and a fifty-two week high of $216.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The company has a market capitalization of $53.80 billion, a price-to-earnings ratio of 37.45 and a beta of 0.55.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the business posted $2.38 earnings per share. The business’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 20.33 earnings per share for the current year.

Diamondback Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Susquehanna boosted their target price on Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Wall Street Zen raised Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Stephens set a $255.00 price target on shares of Diamondback Energy in a report on Thursday, September 17th. UBS Group raised their target price on shares of Diamondback Energy from $243.00 to $253.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. Finally, Wolfe Research reissued an “outperform” rating and issued a $206.00 target price on shares of Diamondback Energy in a research report on Tuesday, August 4th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.84.

Hedge Funds Weigh In On Diamondback Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Diamondback Energy during the 2nd quarter valued at $3,303,362,000. Wellington Management Group LLP grew its holdings in Diamondback Energy by 31.3% during the 2nd quarter. Wellington Management Group LLP now owns 16,420,247 shares of the oil and natural gas company’s stock valued at $2,886,351,000 after buying an additional 3,918,943 shares in the last quarter. State Street Corp raised its holdings in shares of Diamondback Energy by 4.2% during the 2nd quarter. State Street Corp now owns 12,562,224 shares of the oil and natural gas company’s stock worth $2,208,188,000 after acquiring an additional 510,281 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Diamondback Energy during the second quarter valued at $852,791,000. Finally, EnCap Energy Capital Fund XI L.P. increased its holdings in shares of Diamondback Energy by 3.8% in the 4th quarter. EnCap Energy Capital Fund XI L.P. now owns 2,896,632 shares of the oil and natural gas company’s stock worth $435,451,000 after buying an additional 107,369 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company headquartered in Midland, Texas. The company focuses primarily on the acquisition, development, exploration and production of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico.

Diamondback’s operations are concentrated in the Midland and Delaware sub-basins, where it develops properties using horizontal drilling and hydraulic fracturing. Its production includes crude oil, natural gas and natural gas liquids.