Jere W. Thompson III Sells 900 Shares of Diamondback Energy, Inc. (NASDAQ:FANG) Stock

Diamondback Energy, Inc. (NASDAQ:FANG) VP Jere W. Thompson III sold 900 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the sale, the vice president now directly owns 7,585 shares in the company, valued at approximately $1,516,241.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $203.22 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $196.55 and a 200 day simple moving average of $171.35. Diamondback Energy, Inc. has a 1-year low of $123.41 and a 1-year high of $211.96. The stock has a market capitalization of $36.24 billion, a PE ratio of 11.46 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.10 EPS. On average, research analysts expect that Diamondback Energy, Inc. will post 18.91 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Analyst Ratings Changes

FANG has been the subject of a number of research reports. Morgan Stanley lowered their target price on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Barclays started coverage on shares of Diamondback Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price objective on the stock. Susquehanna upped their target price on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Scotiabank increased their target price on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Truist Financial boosted their price target on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $205.68.

Institutional Trading of Diamondback Energy

Several institutional investors and hedge funds have recently bought and sold shares of FANG. CWM LLC lifted its holdings in Diamondback Energy by 1.8% during the 4th quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock valued at $3,058,000 after purchasing an additional 354 shares during the last quarter. Raymond James Trust N.A. lifted its stake in shares of Diamondback Energy by 145.2% during the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock worth $1,860,000 after buying an additional 7,102 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Diamondback Energy by 748.0% during the 4th quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock worth $2,361,000 after buying an additional 13,426 shares during the period. Sequoia Financial Advisors LLC grew its stake in Diamondback Energy by 613.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock valued at $2,388,000 after buying an additional 13,243 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in Diamondback Energy by 143.0% in the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after acquiring an additional 577,514 shares during the period. Institutional investors own 90.01% of the company’s stock.

About Diamondback Energy

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.