Key Points
- Diamondback Energy CAO Teresa Dick sold 7,000 shares on June 2 at an average price of $200.90, for proceeds of about $1.41 million. After the sale, she still held 85,755 shares valued at roughly $17.23 million.
- The stock rose 1.7% and opened at $202.40, near its 52-week high of $214.51. Diamondback also has a market cap of about $56.94 billion and a relatively low beta of 0.42.
- Recent earnings beat expectations, with Q1 EPS of $4.23 versus the $3.74 forecast and revenue of $4.24 billion topping estimates. The company also raised its quarterly dividend to $1.10 per share from $1.05, though its payout ratio is very high.
Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the transaction, the executive vice president owned 46,392 shares of the company's stock, valued at $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Matt Zmigrosky also recently made the following trade(s):
- On Wednesday, May 13th, Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock. The shares were sold at an average price of $200.10, for a total value of $1,000,500.00.
- On Wednesday, March 18th, Matt Zmigrosky sold 4,101 shares of Diamondback Energy stock. The shares were sold at an average price of $190.51, for a total value of $781,281.51.
- On Friday, March 13th, Matt Zmigrosky sold 20,899 shares of Diamondback Energy stock. The shares were sold at an average price of $180.00, for a total value of $3,761,820.00.
Diamondback Energy Stock Up 1.7%
Shares of FANG opened at $202.40 on Wednesday. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $214.51. The stock has a market capitalization of $56.94 billion, a price-to-earnings ratio of 235.35 and a beta of 0.42. 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 stock has a fifty day moving average of $195.45 and a 200-day moving average of $172.34.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 7.76% and a net margin of 1.87%.Diamondback Energy's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $4.54 EPS. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 19.54 earnings per share for the current fiscal year.
Diamondback Energy Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.2%. This is an increase from Diamondback Energy's previous quarterly dividend of $1.05. Diamondback Energy's dividend payout ratio is 511.63%.
Key Stories Impacting Diamondback Energy
Here are the key news stories impacting Diamondback Energy this week:
Institutional Trading of Diamondback Energy
Large investors have recently bought and sold shares of the business. Cedar Mountain Advisors LLC acquired a new stake in Diamondback Energy during the 1st quarter worth about $26,000. Flagship Harbor Advisors LLC acquired a new stake in Diamondback Energy during the 4th quarter worth about $25,000. Laurel Wealth Advisors LLC acquired a new stake in Diamondback Energy during the 4th quarter worth about $26,000. Richardson Financial Services Inc. grew its holdings in Diamondback Energy by 245.1% during the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company's stock worth $26,000 after acquiring an additional 125 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in Diamondback Energy during the 3rd quarter worth about $26,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages recently issued reports on FANG. Mizuho raised their target price on Diamondback Energy from $220.00 to $240.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. UBS Group raised their target price on Diamondback Energy from $240.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, April 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. TD Cowen raised Diamondback Energy to a "strong-buy" rating in a research report on Monday, February 9th. Finally, Benchmark lowered Diamondback Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 5th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $223.26.
Read Our Latest Analysis on Diamondback Energy
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.
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