Insider Selling: Diamondback Energy (NASDAQ:FANG) EVP Sells 5,000 Shares of Stock

Diamondback Energy, Inc. (NASDAQ:FANG) EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $200.10, for a total transaction of $1,000,500.00. Following the completion of the transaction, the executive vice president directly owned 51,392 shares in the company, valued at approximately $10,283,539.20. The trade was a 8.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Matt Zmigrosky also recently made the following trade(s):

• On Wednesday, March 18th, Matt Zmigrosky sold 4,101 shares of Diamondback Energy stock. The stock was sold at an average price of $190.51, for a total transaction of $781,281.51.
• On Friday, March 13th, Matt Zmigrosky sold 20,899 shares of Diamondback Energy stock. The stock was sold at an average price of $180.00, for a total transaction of $3,761,820.00.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock traded down $0.84 during trading on Thursday, hitting $200.26. The stock had a trading volume of 1,568,384 shares, compared to its average volume of 2,910,747. The firm has a market cap of $56.34 billion, a price-to-earnings ratio of 232.86 and a beta of 0.46. Diamondback Energy, Inc. has a 12 month low of $132.20 and a 12 month high of $214.51. The business’s 50-day moving average is $190.73 and its 200 day moving average is $167.13. 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) last released its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.49. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.54 earnings per share. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 18.87 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 14th will be paid a $1.10 dividend. This is a boost 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 is Thursday, May 14th. Diamondback Energy’s payout ratio is currently 488.37%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FANG. Scotiabank increased their target price on Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Truist Financial set a $242.00 target price on Diamondback Energy in a research note on Wednesday, May 6th. Benchmark cut Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. Freedom Capital raised Diamondback Energy to a “strong-buy” rating in a research note on Tuesday, March 10th. Finally, Susquehanna increased their target price on Diamondback Energy from $231.00 to $245.00 and gave the company a “positive” rating in a research note on Wednesday, May 6th. Five analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $218.25.

Institutional Trading of Diamondback Energy

Several institutional investors have recently added to or reduced their stakes in the business. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Diamondback Energy by 233.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 12,673 shares of the oil and natural gas company’s stock worth $1,814,000 after purchasing an additional 8,877 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Diamondback Energy by 9.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,733 shares of the oil and natural gas company’s stock worth $16,848,000 after purchasing an additional 10,289 shares during the period. Moloney Securities Asset Management LLC purchased a new stake in shares of Diamondback Energy during the third quarter worth about $472,000. WoodTrust Financial Corp purchased a new stake in shares of Diamondback Energy during the third quarter worth about $1,624,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Diamondback Energy by 9.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,385,428 shares of the oil and natural gas company’s stock worth $198,255,000 after purchasing an additional 122,921 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.