Key Points
- Diamondback Energy EVP Matt Zmigrosky sold 5,000 shares on May 13 at an average price of $200.10, totaling about $1.0 million. After the sale, he still held 51,392 shares, a decrease of 8.87% in his ownership.
- The company recently reported strong quarterly results, with EPS of $4.23 beating estimates of $3.74 and revenue of $4.24 billion topping expectations. Revenue also rose 4.7% from the same quarter last year.
- Diamondback Energy raised its quarterly dividend to $1.10 per share from $1.05, implying an annualized payout of $4.40 and a 2.2% yield. Analysts remain mostly bullish, with a consensus rating of “Buy” and an average price target of $218.25.
Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $200.10, for a total transaction of $1,000,500.00. Following the completion of the sale, the executive vice president directly owned 51,392 shares of the company's stock, valued at $10,283,539.20. This trade represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Matt Zmigrosky also recently made the following trade(s):
- On Wednesday, March 18th, Matt Zmigrosky sold 4,101 shares of Diamondback Energy stock. The stock was sold at an average price of $190.51, for a total transaction of $781,281.51.
- On Friday, March 13th, Matt Zmigrosky sold 20,899 shares of Diamondback Energy stock. The stock was sold at an average price of $180.00, for a total transaction of $3,761,820.00.
Diamondback Energy Price Performance
NASDAQ FANG opened at $200.26 on Friday. The company has a 50 day simple moving average of $191.19 and a 200-day simple moving average of $167.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The firm has a market capitalization of $56.34 billion, a price-to-earnings ratio of 232.86 and a beta of 0.46. Diamondback Energy, Inc. has a 52-week low of $132.20 and a 52-week high of $214.51.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.54 earnings per share. Equities research analysts predict that Diamondback Energy, Inc. will post 19.04 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. Stockholders of record on Thursday, May 14th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. This is a positive change from Diamondback Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, May 14th. Diamondback Energy's payout ratio is currently 488.37%.
Hedge Funds Weigh In On Diamondback Energy
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC acquired a new position in Diamondback Energy during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its holdings in Diamondback Energy by 245.1% during the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company's stock valued at $26,000 after purchasing an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new position in Diamondback Energy during the fourth quarter valued at approximately $26,000. Cedar Mountain Advisors LLC acquired a new position in Diamondback Energy during the first quarter valued at approximately $26,000. Finally, JPL Wealth Management LLC acquired a new position in Diamondback Energy during the third quarter valued at approximately $26,000. Institutional investors own 90.01% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on FANG shares. Raymond James Financial reissued a "strong-buy" rating and issued a $242.00 price target on shares of Diamondback Energy in a research report on Monday, April 27th. Citigroup increased their price target on shares of Diamondback Energy from $178.00 to $230.00 and gave the stock a "buy" rating in a research report on Monday, March 30th. Wall Street Zen raised shares of Diamondback Energy from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. UBS Group increased their price target on shares of Diamondback Energy from $240.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, April 10th. Finally, Piper Sandler increased their price objective on Diamondback Energy from $215.00 to $248.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of "Buy" and a consensus target price of $218.25.
Check Out Our Latest Research Report on Diamondback Energy
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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