Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) Director Charles Alvin Meloy sold 377,911 shares of the firm's stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the sale, the director directly owned 1,044,864 shares in the company, valued at approximately $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Diamondback Energy Price Performance
NASDAQ FANG opened at $157.52 on Tuesday. The stock has a 50-day simple moving average of $146.19 and a 200 day simple moving average of $143.71. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $180.91. The stock has a market capitalization of $45.11 billion, a PE ratio of 10.95 and a beta of 0.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.94 by $0.14. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The company's revenue was up 48.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 EPS. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.
Diamondback Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.5%. Diamondback Energy's payout ratio is 27.80%.
Analysts Set New Price Targets
A number of analysts have weighed in on FANG shares. William Blair started coverage on shares of Diamondback Energy in a report on Monday, August 25th. They issued an "outperform" rating for the company. Barclays reduced their target price on shares of Diamondback Energy from $185.00 to $178.00 and set an "overweight" rating for the company in a research note on Tuesday, October 7th. Morgan Stanley reissued an "overweight" rating and set a $183.00 target price on shares of Diamondback Energy in a research report on Thursday, November 20th. Wells Fargo & Company upped their price target on Diamondback Energy from $160.00 to $169.00 and gave the company an "overweight" rating in a report on Monday, November 17th. Finally, Roth Capital set a $162.00 price objective on Diamondback Energy and gave the stock a "buy" rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $186.95.
View Our Latest Analysis on FANG
Hedge Funds Weigh In On Diamondback Energy
A number of hedge funds have recently modified their holdings of FANG. Blair William & Co. IL grew its position in Diamondback Energy by 9.8% in the first quarter. Blair William & Co. IL now owns 4,280 shares of the oil and natural gas company's stock valued at $684,000 after acquiring an additional 382 shares during the period. Cary Street Partners Financial LLC grew its holdings in shares of Diamondback Energy by 36.3% in the 1st quarter. Cary Street Partners Financial LLC now owns 458 shares of the oil and natural gas company's stock worth $73,000 after purchasing an additional 122 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Diamondback Energy by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,121,998 shares of the oil and natural gas company's stock worth $179,385,000 after purchasing an additional 31,018 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Diamondback Energy by 2.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 4,705 shares of the oil and natural gas company's stock worth $752,000 after purchasing an additional 103 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in Diamondback Energy by 29.6% during the 1st quarter. National Bank of Canada FI now owns 183,751 shares of the oil and natural gas company's stock valued at $29,377,000 after purchasing an additional 42,006 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.
Diamondback Energy Company Profile
(
Get Free Report)
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.
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