Diamondback Energy (NASDAQ:FANG) Director Sells $98,250.00 in Stock

Diamondback Energy, Inc. (NASDAQ:FANG) Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the transaction, the director directly owned 13,437 shares in the company, valued at $2,640,370.50. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Diamondback Energy Price Performance

Shares of FANG traded up $2.31 on Wednesday, hitting $196.55. The company’s stock had a trading volume of 2,725,871 shares, compared to its average volume of 2,828,338. The company has a market capitalization of $55.29 billion, a PE ratio of 228.55 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The company has a 50 day moving average price of $195.84 and a 200 day moving average price of $174.57.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the business earned $4.54 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Diamondback Energy, Inc. will post 19.65 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a $1.10 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy’s dividend payout ratio (DPR) is currently 511.63%.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter worth about $25,000. Richardson Financial Services Inc. grew its position in Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 125 shares in the last quarter. Laurel Wealth Advisors LLC bought a new stake in Diamondback Energy in the 4th quarter worth about $26,000. Cedar Mountain Advisors LLC bought a new stake in Diamondback Energy in the 1st quarter worth about $26,000. Finally, JPL Wealth Management LLC bought a new stake in Diamondback Energy in the 3rd quarter worth about $26,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FANG shares. Scotiabank increased their price target on Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Piper Sandler increased their target price on Diamondback Energy from $215.00 to $248.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Benchmark cut Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Morgan Stanley raised their price objective on Diamondback Energy from $224.00 to $229.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Finally, Roth Mkm restated a “neutral” rating and issued a $205.00 price objective on shares of Diamondback Energy in a report on Tuesday, May 5th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $223.63.

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.