Key Points
- Charles Alvin Meloy, a director of Diamondback Energy (NASDAQ: FANG), sold 60,605 shares on Feb. 3 at an average price of $161.12 for $9.76 million, leaving him with 982,006 shares (a 5.81% reduction, valued ≈ $158.22M).
- He previously sold 377,911 shares on Dec. 4 at $138.61 for about $52.38 million, indicating substantial insider selling in recent months.
- Diamondback Energy trades near its 1‑year high with a market cap of $48.4B and a P/E of 11.74, and analysts have a consensus "Moderate Buy" rating with a $185.90 price target.
Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) Director Charles Alvin Meloy sold 60,605 shares of Diamondback Energy stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $161.12, for a total transaction of $9,764,677.60. Following the completion of the sale, the director owned 982,006 shares in the company, valued at approximately $158,220,806.72. This trade represents a 5.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Charles Alvin Meloy also recently made the following trade(s):
- On Thursday, December 4th, Charles Alvin Meloy sold 377,911 shares of Diamondback Energy stock. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71.
Diamondback Energy Price Performance
FANG stock opened at $168.99 on Thursday. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $169.49. The firm has a 50-day moving average of $153.08 and a 200 day moving average of $146.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The company has a market cap of $48.40 billion, a P/E ratio of 11.74 and a beta of 0.63.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.14. The firm had revenue of $3.92 billion during 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 business's revenue was up 48.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.19 EPS. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.
Analyst Ratings Changes
Several equities research analysts recently commented on FANG shares. Piper Sandler boosted their price objective on shares of Diamondback Energy from $215.00 to $218.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 28th. Royal Bank Of Canada restated an "outperform" rating and issued a $173.00 price target on shares of Diamondback Energy in a research note on Friday, October 10th. Roth Mkm set a $162.00 price objective on Diamondback Energy and gave the company a "buy" rating in a research note on Tuesday, November 4th. Wall Street Zen cut Diamondback Energy from a "hold" rating to a "sell" rating in a research note on Saturday, December 27th. Finally, UBS Group raised their price objective on shares of Diamondback Energy from $174.00 to $194.00 and gave the company a "buy" rating in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $185.90.
View Our Latest Research Report on FANG
Institutional Trading of Diamondback Energy
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. Ameritas Advisory Services LLC increased its stake in shares of Diamondback Energy by 2,390.0% in the 4th quarter. Ameritas Advisory Services LLC now owns 2,490 shares of the oil and natural gas company's stock worth $374,000 after purchasing an additional 2,390 shares in the last quarter. Independent Advisor Alliance lifted its holdings in Diamondback Energy by 31.1% in the 4th quarter. Independent Advisor Alliance now owns 4,883 shares of the oil and natural gas company's stock worth $734,000 after purchasing an additional 1,157 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in Diamondback Energy by 7.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 4,213 shares of the oil and natural gas company's stock worth $633,000 after purchasing an additional 274 shares during the period. ABC Arbitrage SA bought a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $1,371,000. Finally, Valeo Financial Advisors LLC boosted its position in shares of Diamondback Energy by 14.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,937 shares of the oil and natural gas company's stock worth $441,000 after acquiring an additional 369 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.
Diamondback Energy Company Profile
(
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
