Key Points
- Director Charles Meloy sold 33,333 Diamondback Energy shares at an average price of $183.74, generating proceeds of approximately $6.12 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his stake by 4.2%.
- Diamondback reported quarterly EPS of $6.48, exceeding the $6.08 analyst consensus, while revenue rose 51.2% year over year to $5.56 billion.
- Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $228.90, compared with a recent price of $184.38.
Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) Director Charles Meloy sold 33,333 shares of Diamondback Energy stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $183.74, for a total value of $6,124,605.42. Following the transaction, the director directly owned 759,864 shares in the company, valued at approximately $139,617,411.36. This trade represents a 4.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Charles Alvin Meloy also recently made the following trade(s):
- On Monday, August 3rd, Charles Meloy sold 33,333 shares of Diamondback Energy stock. The shares were sold at an average price of $198.41, for a total value of $6,613,600.53.
Diamondback Energy Price Performance
NASDAQ FANG opened at $184.38 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. The firm has a market capitalization of $51.63 billion, a price-to-earnings ratio of 35.94 and a beta of 0.55. The company has a 50 day simple moving average of $196.90 and a 200-day simple moving average of $194.23. Diamondback Energy, Inc. has a 52-week low of $137.03 and a 52-week high of $216.90.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm's revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.38 earnings per share. Equities research analysts predict that Diamondback Energy, Inc. will post 20.33 earnings per share for the current fiscal year.
Diamondback Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.4%. Diamondback Energy's dividend payout ratio (DPR) is 85.77%.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on FANG shares. Wells Fargo & Company increased their price objective on Diamondback Energy from $262.00 to $263.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Raymond James Financial restated a "strong-buy" rating on shares of Diamondback Energy in a research note on Thursday, September 17th. UBS Group upped their target price on Diamondback Energy from $243.00 to $253.00 and gave the stock a "buy" rating in a research report on Monday, September 14th. Stephens set a $255.00 price target on Diamondback Energy in a research note on Thursday, September 17th. Finally, Weiss Ratings raised Diamondback Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned 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 $228.90.
Get Our Latest Research Report on FANG
Institutional Investors Weigh In On Diamondback Energy
Several institutional investors and hedge funds have recently modified their holdings of the business. Transamerica Financial Advisors LLC lifted its holdings in Diamondback Energy by 21.0% during the second quarter. Transamerica Financial Advisors LLC now owns 294 shares of the oil and natural gas company's stock worth $52,000 after buying an additional 51 shares during the period. Capital Advisors Inc. OK boosted its position in Diamondback Energy by 2.9% during the 2nd quarter. Capital Advisors Inc. OK now owns 1,929 shares of the oil and natural gas company's stock valued at $339,000 after acquiring an additional 54 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of Diamondback Energy by 4.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,251 shares of the oil and natural gas company's stock valued at $220,000 after acquiring an additional 59 shares during the period. Wedbush Securities Inc. increased its holdings in shares of Diamondback Energy by 1.5% in the 2nd quarter. Wedbush Securities Inc. now owns 4,979 shares of the oil and natural gas company's stock valued at $875,000 after acquiring an additional 72 shares during the period. Finally, Capital Financial Group Inc. Co. ADV raised its position in shares of Diamondback Energy by 2.1% in the 1st quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company's stock worth $709,000 after acquiring an additional 75 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.
About Diamondback Energy
(
Get Free Report)
Diamondback Energy, Inc is an independent oil and natural gas company headquartered in Midland, Texas. The company focuses primarily on the acquisition, development, exploration and production of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico.
Diamondback's operations are concentrated in the Midland and Delaware sub-basins, where it develops properties using horizontal drilling and hydraulic fracturing. Its production includes crude oil, natural gas and natural gas liquids.
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