Diamondback Energy Inc (NASDAQ:FANG) CFO Hof Matthew Kaes Van’t acquired 4,750 shares of Diamondback Energy stock in a transaction dated Thursday, March 19th. The shares were bought at an average price of $17.23 per share, with a total value of $81,842.50. Following the transaction, the chief financial officer now directly owns 52,130 shares in the company, valued at approximately $898,199.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Diamondback Energy stock opened at $24.17 on Thursday. Diamondback Energy Inc has a 52 week low of $14.55 and a 52 week high of $114.14. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $54.17 and its 200 day simple moving average is $78.17. The firm has a market capitalization of $3.82 billion, a PE ratio of 17.39, a P/E/G ratio of 0.18 and a beta of 1.09.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 18th. The oil and natural gas company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.80 by $0.13. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Diamondback Energy had a net margin of 6.05% and a return on equity of 7.00%. The business’s revenue for the quarter was up 74.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 EPS. On average, research analysts expect that Diamondback Energy Inc will post 6.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.21%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.19. Diamondback Energy’s dividend payout ratio is currently 21.65%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Research Global Investors increased its stake in shares of Diamondback Energy by 38.0% during the 4th quarter. Capital Research Global Investors now owns 19,577,175 shares of the oil and natural gas company’s stock valued at $1,817,936,000 after acquiring an additional 5,391,907 shares during the last quarter. State Street Corp increased its stake in shares of Diamondback Energy by 6.5% during the 4th quarter. State Street Corp now owns 8,401,045 shares of the oil and natural gas company’s stock valued at $780,121,000 after acquiring an additional 511,218 shares during the last quarter. Boston Partners increased its stake in shares of Diamondback Energy by 17.8% during the 4th quarter. Boston Partners now owns 2,983,541 shares of the oil and natural gas company’s stock valued at $277,049,000 after acquiring an additional 450,265 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Diamondback Energy by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 2,645,072 shares of the oil and natural gas company’s stock valued at $245,149,000 after acquiring an additional 137,234 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Diamondback Energy by 189.6% during the 4th quarter. Bank of America Corp DE now owns 2,404,325 shares of the oil and natural gas company’s stock valued at $223,265,000 after acquiring an additional 1,574,081 shares during the last quarter. 96.90% of the stock is owned by institutional investors.
FANG has been the topic of several recent research reports. Imperial Capital reissued an “outperform” rating and issued a $110.00 price objective (up from $88.00) on shares of Diamondback Energy in a research note on Tuesday, January 14th. Piper Sandler cut shares of Diamondback Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from to in a research note on Tuesday. TD Securities dropped their price objective on shares of Diamondback Energy from $67.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Raymond James cut shares of Diamondback Energy from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, March 17th. Finally, Mizuho reissued a “buy” rating and issued a $130.00 price objective on shares of Diamondback Energy in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $106.08.
Diamondback Energy Company Profile
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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