Diamondback Energy, Inc. (NASDAQ:FANG) VP Jere W. Thompson III Sells 900 Shares of Stock

Diamondback Energy, Inc. (NASDAQ:FANG) VP Jere W. Thompson III sold 900 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the sale, the vice president now owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Diamondback Energy Trading Down 0.2 %

Shares of NASDAQ FANG opened at $203.68 on Wednesday. The company has a market cap of $36.33 billion, a PE ratio of 11.48 and a beta of 1.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. The firm’s 50 day moving average price is $196.55 and its 200-day moving average price is $171.35. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the business posted $4.10 EPS. The company’s revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy, Inc. will post 18.91 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Raymond James dropped their price target on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Bank of America upgraded shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $129.00 to $170.00 in a research report on Monday, February 12th. Stifel Nicolaus raised their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Piper Sandler upped their target price on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, StockNews.com upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.68.

Hedge Funds Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its position in Diamondback Energy by 39.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after purchasing an additional 858,446 shares during the period. Diamond Hill Capital Management Inc. bought a new position in shares of Diamondback Energy during the 3rd quarter valued at $128,720,000. Wellington Management Group LLP boosted its stake in shares of Diamondback Energy by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after buying an additional 648,317 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Diamondback Energy by 143.0% in the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after acquiring an additional 577,514 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its position in Diamondback Energy by 286.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock valued at $92,380,000 after acquiring an additional 441,411 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

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.