Diamondback Energy, Inc. (NASDAQ:FANG) CFO Sells $2,289,840.00 in Stock

Diamondback Energy, Inc. (NASDAQ:FANGGet Free Report) CFO Hof Matthew Kaes Van’t sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the completion of the sale, the chief financial officer now directly owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Diamondback Energy Trading Up 0.2 %

Shares of NASDAQ FANG opened at $194.70 on Friday. The firm has a 50 day moving average price of $170.21 and a two-hundred day moving average price of $161.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. Diamondback Energy, Inc. has a 52-week low of $121.84 and a 52-week high of $195.12. The stock has a market cap of $34.74 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 0.50 and a beta of 1.92.

Diamondback Energy (NASDAQ:FANGGet Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm posted $5.29 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 17.75 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a dividend of $3.08 per share. The ex-dividend date was Monday, March 4th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a yield of 6.33%. Diamondback Energy’s dividend payout ratio is currently 20.76%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BKM Wealth Management LLC bought a new position in Diamondback Energy during the fourth quarter worth $27,000. Hobbs Group Advisors LLC bought a new position in shares of Diamondback Energy in the fourth quarter valued at $27,000. BluePath Capital Management LLC bought a new position in shares of Diamondback Energy in the third quarter valued at $28,000. FinTrust Capital Advisors LLC lifted its stake in shares of Diamondback Energy by 232.8% in the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock valued at $29,000 after buying an additional 149 shares in the last quarter. Finally, Logan Capital Management Inc. bought a new position in shares of Diamondback Energy in the fourth quarter valued at $31,000. 87.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FANG. Raymond James cut their price target on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. KeyCorp upped their price target on shares of Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group upped their price target on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Bank Of America (Bofa) lowered their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research report on Thursday, January 18th. Finally, Mizuho upped their price objective on shares of Diamondback Energy from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $187.78.

Check Out Our Latest Report on Diamondback Energy

Diamondback Energy Company Profile

(Get Free Report)

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, 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.

See Also

Insider Buying and Selling by Quarter for Diamondback Energy (NASDAQ:FANG)

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.