Key Points
- Insider sale: Diamondback Energy director Mark Lawrence Plaumann sold 500 shares on June 9 at an average price of $196.50, totaling $98,250. After the transaction, he still held 13,437 shares.
- Strong recent earnings: The oil and gas company reported quarterly EPS of $4.23, beating analyst estimates of $3.74, and revenue of $4.24 billion, also above expectations. Revenue rose 4.7% year over year.
- Dividend and analyst sentiment: Diamondback recently raised its quarterly dividend to $1.10 per share, and analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $223.63.
Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the sale, the director owned 13,437 shares in the company, valued at $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Diamondback Energy Stock Performance
Shares of Diamondback Energy stock opened at $196.55 on Thursday. The business's fifty day simple moving average is $195.80 and its 200 day simple moving average is $174.93. The firm has a market capitalization of $55.29 billion, a P/E ratio of 228.55 and a beta of 0.42. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $214.51. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its 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. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period last year, the business posted $4.54 earnings per share. The business's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Diamondback Energy, Inc. will post 19.65 EPS for the current year.
Diamondback Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $1.10 dividend. This is an increase from Diamondback Energy's previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy's dividend payout ratio (DPR) is 511.63%.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on Diamondback Energy from $202.00 to $262.00 and gave the stock an "overweight" rating in a research report on Monday, April 20th. Piper Sandler raised their target price on Diamondback Energy from $215.00 to $248.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. Roth Mkm reissued a "neutral" rating and issued a $205.00 target price on shares of Diamondback Energy in a research report on Tuesday, May 5th. 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. Finally, Freedom Capital raised Diamondback Energy to a "strong-buy" rating in a research report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $223.63.
Check Out Our Latest Stock Analysis on FANG
Hedge Funds Weigh In On Diamondback Energy
Hedge funds have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC purchased a new position in shares of Diamondback Energy in the fourth quarter valued at $25,000. Richardson Financial Services Inc. grew its position in shares of Diamondback Energy by 245.1% in 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 in the last quarter. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the fourth quarter valued at $26,000. Cedar Mountain Advisors LLC purchased a new position in shares of Diamondback Energy in the first quarter valued at $26,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Diamondback Energy in the third quarter valued at $26,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.
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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