Diamondback Energy (NASDAQ:FANG) CAO Sells 5,000 Shares of Stock

by · The Cerbat Gem

Diamondback Energy, Inc. (NASDAQ:FANG – Get Free Report) CAO Teresa Dick sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $207.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the chief accounting officer directly owned 92,755 shares of the company’s stock, valued at approximately $19,200,285. The trade was a 5.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Diamondback Energy Stock Performance

NASDAQ:FANG traded down $3.36 during mid-day trading on Thursday, reaching $200.97. 1,494,970 shares of the company’s stock were exchanged, compared to its average volume of 2,848,337. Diamondback Energy, Inc. has a one year low of $132.20 and a one year high of $214.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The business’s fifty day simple moving average is $193.23 and its two-hundred day simple moving average is $169.27. The firm has a market capitalization of $56.53 billion, a PE ratio of 233.69 and a beta of 0.46.

Diamondback Energy (NASDAQ:FANG – Get Free Report) 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, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the previous year, the firm posted $4.54 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts anticipate that Diamondback Energy, Inc. will post 18.93 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 14th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, May 14th. Diamondback Energy’s dividend payout ratio is presently 511.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FANG. Barclays boosted their price target on Diamondback Energy from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein upped their target price on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. KeyCorp upped their target price on Diamondback Energy from $196.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. The Goldman Sachs Group upped their target price on Diamondback Energy from $187.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Finally, Zacks Research raised shares of Diamondback Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Diamondback Energy currently has an average rating of “Buy” and an average price target of $219.00.

Check Out Our Latest Stock Report on FANG

More Diamondback Energy News

Here are the key news stories impacting Diamondback Energy this week:

  • Positive Sentiment: Bernstein reiterated an Outperform rating and lifted its price target, signaling continued analyst confidence in Diamondback Energy’s outlook.
  • Positive Sentiment: Elevated oil prices and Permian Basin strength continue to support sentiment toward upstream producers like Diamondback Energy.
  • Neutral Sentiment: The company announced a planned leadership transition with board backing, which is likely to be viewed as a governance update rather than a major business catalyst.

Institutional Trading of Diamondback Energy

Several institutional investors and hedge funds have recently modified their holdings of FANG. Cresset Asset Management LLC raised its position in Diamondback Energy by 37.5% during the 2nd quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock worth $649,000 after purchasing an additional 1,288 shares during the last quarter. Jump Financial LLC bought a new position in shares of Diamondback Energy during the second quarter worth about $2,301,000. Cerity Partners LLC raised its position in shares of Diamondback Energy by 13.5% during the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock worth $7,022,000 after acquiring an additional 6,069 shares during the last quarter. AXA S.A. lifted its stake in shares of Diamondback Energy by 8.5% in the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock worth $7,194,000 after acquiring an additional 4,103 shares during the period. Finally, Sei Investments Co. boosted its holdings in Diamondback Energy by 37.1% in the second quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock valued at $21,239,000 after acquiring an additional 41,866 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

About Diamondback Energy

(Get Free Report)

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.

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