Diamondback Energy, Inc. (NASDAQ:FANG) Director David L. Houston Sells 8,000 Shares

Diamondback Energy, Inc. (NASDAQ:FANG) Director David L. Houston sold 8,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $156.54, for a total value of $1,252,320.00. Following the sale, the director now directly owns 11,565 shares of the company’s stock, valued at $1,810,385.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $157.92 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.43. The firm has a market cap of $28.24 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 0.41 and a beta of 2.04. The business’s 50-day simple moving average is $147.30 and its 200-day simple moving average is $138.50. Diamondback Energy, Inc. has a 52 week low of $110.97 and a 52 week high of $168.95.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, July 31st. The oil and natural gas company reported $3.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.92 by ($0.24). The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.90 billion. Diamondback Energy had a net margin of 41.62% and a return on equity of 22.43%. The business’s quarterly revenue was down 30.7% compared to the same quarter last year. During the same period last year, the business earned $7.07 EPS. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 17.34 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 10th were issued a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $3.36 dividend on an annualized basis and a yield of 2.13%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.80. Diamondback Energy’s dividend payout ratio (DPR) is 17.44%.

Institutional Trading of Diamondback Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. Bessemer Group Inc. grew its holdings in shares of Diamondback Energy by 0.6% during the 2nd quarter. Bessemer Group Inc. now owns 10,905 shares of the oil and natural gas company’s stock worth $1,433,000 after purchasing an additional 67 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Diamondback Energy by 2.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 3,810 shares of the oil and natural gas company’s stock worth $500,000 after purchasing an additional 73 shares in the last quarter. Greenup Street Wealth Management LLC grew its holdings in shares of Diamondback Energy by 0.8% during the 1st quarter. Greenup Street Wealth Management LLC now owns 10,003 shares of the oil and natural gas company’s stock worth $1,352,000 after purchasing an additional 81 shares in the last quarter. KLK Capital Management LLC grew its holdings in shares of Diamondback Energy by 0.8% during the 1st quarter. KLK Capital Management LLC now owns 10,067 shares of the oil and natural gas company’s stock worth $1,361,000 after purchasing an additional 83 shares in the last quarter. Finally, J2 Capital Management Inc grew its holdings in shares of Diamondback Energy by 3.6% during the 2nd quarter. J2 Capital Management Inc now owns 2,537 shares of the oil and natural gas company’s stock worth $333,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FANG shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of Diamondback Energy in a report on Thursday, August 10th. Stifel Nicolaus increased their price objective on Diamondback Energy from $178.00 to $179.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. UBS Group increased their price objective on Diamondback Energy from $161.00 to $191.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Piper Sandler increased their price objective on Diamondback Energy from $185.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, August 14th. Finally, Truist Financial increased their price objective on Diamondback Energy from $182.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $177.39.

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 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.