Insider Selling: Diamondback Energy (NASDAQ:FANG) Major Shareholder Sells 1,000,000 Shares of Stock

Diamondback Energy, Inc. (NASDAQ:FANG) major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of Diamondback Energy stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total transaction of $162,880,000.00. Following the completion of the sale, the insider directly owned 98,686,727 shares of the company’s stock, valued at approximately $16,074,094,093.76. The trade was a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Fang Holdings Lp Sgf also recently made the following trade(s):

• On Friday, November 28th, Fang Holdings Lp Sgf sold 2,000,000 shares of Diamondback Energy stock. The stock was sold at an average price of $152.59, for a total transaction of $305,180,000.00.

Diamondback Energy Stock Down 2.5%

NASDAQ FANG traded down $4.21 during trading on Thursday, hitting $164.78. 1,819,104 shares of the company traded hands, compared to its average volume of 2,058,957. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $47.19 billion, a P/E ratio of 11.45 and a beta of 0.63. The business has a fifty day simple moving average of $153.08 and a 200 day simple moving average of $146.83. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $169.49.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period last year, the business earned $3.19 EPS. The firm’s revenue was up 48.4% compared to the same quarter last year. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Scotiabank set a $175.00 target price on shares of Diamondback Energy in a report on Friday, January 16th. Jefferies Financial Group reissued a “hold” rating and set a $173.00 target price on shares of Diamondback Energy in a research report on Monday, January 19th. Sanford C. Bernstein decreased their price target on shares of Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Finally, UBS Group lifted their price objective on Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.90.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC acquired a new stake in Diamondback Energy during the fourth quarter worth about $25,000. Richardson Financial Services Inc. raised its holdings in Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after acquiring an additional 125 shares in the last quarter. Laurel Wealth Advisors LLC bought a new stake in shares of Diamondback Energy in the 4th quarter worth approximately $26,000. JPL Wealth Management LLC bought a new stake in shares of Diamondback Energy in the 3rd quarter worth approximately $26,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Company Profile

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.