Key Points
- Director Travis Stice sold 75,000 Diamondback Energy shares at an average price of $204.31, receiving approximately $15.3 million. His remaining stake fell by 60.13% to 49,727 shares.
- Diamondback reported strong quarterly results, with adjusted earnings of $6.48 per share beating estimates and revenue rising 51.2% year over year to $5.56 billion.
- Analysts maintain a generally positive view, giving the stock a “Moderate Buy” consensus rating and an average price target of $224.55, above its reported price of $205.72.
Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) Director Travis Stice sold 75,000 shares of the business's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $204.31, for a total value of $15,323,250.00. Following the sale, the director owned 49,727 shares of the company's stock, valued at approximately $10,159,723.37. This represents a 60.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Diamondback Energy Price Performance
Shares of FANG opened at $205.72 on Tuesday. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $216.90. The business's fifty day moving average is $198.43 and its 200 day moving average is $193.11. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The stock has a market cap of $57.61 billion, a P/E ratio of 40.10 and a beta of 0.43.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating analysts' consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the previous year, the business posted $2.38 EPS. Diamondback Energy's quarterly revenue was up 51.2% on a year-over-year basis. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 19.94 earnings per share for the current fiscal year.
Diamondback Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, August 13th. Diamondback Energy's dividend payout ratio (DPR) is currently 85.77%.
Analyst Ratings Changes
A number of research firms recently weighed in on FANG. Susquehanna upped their target price on shares of Diamondback Energy from $245.00 to $255.00 and gave the stock a "positive" rating in a report on Tuesday, July 21st. Weiss Ratings raised Diamondback Energy from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 31st. Wolfe Research reissued an "outperform" rating and issued a $206.00 price objective on shares of Diamondback Energy in a research note on Tuesday, August 4th. Morgan Stanley restated an "equal weight" rating and issued a $216.00 target price on shares of Diamondback Energy in a report on Wednesday, August 19th. Finally, Wells Fargo & Company lifted their target price on Diamondback Energy from $262.00 to $263.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Diamondback Energy currently has an average rating of "Moderate Buy" and an average price target of $224.55.
View Our Latest Report on Diamondback Energy
Institutional Investors Weigh In On Diamondback Energy
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its position in shares of Diamondback Energy by 16.3% during the fourth quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company's stock valued at $50,890,000 after acquiring an additional 47,450 shares during the last quarter. Guinness Asset Management LTD boosted its position in Diamondback Energy by 12.0% in the fourth quarter. Guinness Asset Management LTD now owns 54,132 shares of the oil and natural gas company's stock worth $8,042,000 after purchasing an additional 5,816 shares during the last quarter. National Pension Service boosted its position in Diamondback Energy by 7.7% in the fourth quarter. National Pension Service now owns 381,710 shares of the oil and natural gas company's stock worth $57,382,000 after purchasing an additional 27,229 shares during the last quarter. Peterson Wealth Services grew its stake in Diamondback Energy by 174.2% in the 4th quarter. Peterson Wealth Services now owns 23,973 shares of the oil and natural gas company's stock valued at $3,604,000 after purchasing an additional 15,229 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Diamondback Energy by 11.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 67,977 shares of the oil and natural gas company's stock valued at $10,219,000 after purchasing an additional 6,992 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.
Diamondback Energy Company Profile
(
Get Free Report)
Diamondback Energy, Inc is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico. The company's operations are concentrated primarily in the Midland and Delaware sub-basins.
Diamondback produces crude oil, natural gas and natural gas liquids. Its activities include drilling and completing horizontal wells, operating gathering and infrastructure assets, and managing mineral and royalty interests through its Viper Energy platform.
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