Insider Selling: Diamondback Energy (NASDAQ:FANG) CAO Sells $1,406,300.00 in Stock

Diamondback Energy, Inc. (NASDAQ:FANG) CAO Teresa Dick sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the transaction, the chief accounting officer directly owned 85,755 shares in the company, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $202.94 on Friday. The business’s 50 day moving average price is $196.14 and its two-hundred day moving average price is $173.58. The company has a market cap of $57.09 billion, a PE ratio of 235.98 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.54 earnings per share. On average, analysts predict that Diamondback Energy, Inc. will post 19.54 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 511.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FANG shares. Sanford C. Bernstein boosted their price target on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Wells Fargo & Company boosted their price objective on Diamondback Energy from $202.00 to $262.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Scotiabank boosted their price objective on Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Freedom Capital upgraded Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $223.26.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors have recently made changes to their positions in the stock. Moloney Securities Asset Management LLC purchased a new stake in Diamondback Energy in the 3rd quarter valued at about $472,000. Assetmark Inc. increased its stake in Diamondback Energy by 2.4% in the 3rd quarter. Assetmark Inc. now owns 256,638 shares of the oil and natural gas company’s stock valued at $36,725,000 after buying an additional 5,936 shares during the last quarter. National Pension Service increased its stake in Diamondback Energy by 4.8% in the 3rd quarter. National Pension Service now owns 354,481 shares of the oil and natural gas company’s stock valued at $50,726,000 after buying an additional 16,350 shares during the last quarter. Smead Capital Management Inc. increased its stake in Diamondback Energy by 24.6% in the 3rd quarter. Smead Capital Management Inc. now owns 1,312,413 shares of the oil and natural gas company’s stock valued at $187,806,000 after buying an additional 258,738 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Diamondback Energy by 9.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,355,480 shares of the oil and natural gas company’s stock valued at $337,078,000 after buying an additional 198,919 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

About Diamondback Energy

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.