Diamondback Energy Inc (NASDAQ:FANG) EVP Randall J. Holder sold 3,000 shares of Diamondback Energy stock in a transaction on Monday, September 16th. The shares were sold at an average price of $103.21, for a total transaction of $309,630.00. Following the completion of the sale, the executive vice president now owns 8,448 shares of the company’s stock, valued at approximately $871,918.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
NASDAQ FANG traded down $2.20 during mid-day trading on Wednesday, hitting $98.25. The company’s stock had a trading volume of 1,550,445 shares, compared to its average volume of 1,775,912. The company’s 50 day simple moving average is $97.26 and its 200 day simple moving average is $102.45. Diamondback Energy Inc has a twelve month low of $85.19 and a twelve month high of $140.78. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $15.77 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.47 and a beta of 0.83.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.04). Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business posted $1.59 EPS. The business’s revenue for the quarter was up 93.7% compared to the same quarter last year. As a group, research analysts forecast that Diamondback Energy Inc will post 7.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a $0.188 dividend. This represents a $0.75 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s payout ratio is currently 12.78%.
Several analysts have recently weighed in on the stock. Piper Jaffray Companies set a $156.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Friday, August 16th. Morgan Stanley lowered their price objective on shares of Diamondback Energy from $143.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Roth Capital lowered their price objective on shares of Diamondback Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Wells Fargo & Co lifted their price objective on shares of Diamondback Energy from $169.00 to $171.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Finally, ValuEngine lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $152.95.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Diamondback Energy by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 17,698,267 shares of the oil and natural gas company’s stock valued at $1,928,581,000 after purchasing an additional 275,764 shares during the period. BlackRock Inc. boosted its holdings in Diamondback Energy by 4.7% during the 2nd quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock worth $1,167,931,000 after acquiring an additional 485,647 shares during the last quarter. Corvex Management LP boosted its holdings in Diamondback Energy by 10.7% during the 2nd quarter. Corvex Management LP now owns 2,935,307 shares of the oil and natural gas company’s stock worth $319,860,000 after acquiring an additional 283,785 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Diamondback Energy during the 2nd quarter worth $303,291,000. Finally, Geode Capital Management LLC boosted its holdings in Diamondback Energy by 128.1% during the 4th quarter. Geode Capital Management LLC now owns 2,040,175 shares of the oil and natural gas company’s stock worth $188,797,000 after acquiring an additional 1,145,573 shares during the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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