Daniel N. Wesson Sells 6,000 Shares of Diamondback Energy, Inc. (NASDAQ:FANG) Stock

Diamondback Energy, Inc. (NASDAQ:FANGGet Free Report) COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the sale, the chief operating officer now owns 69,677 shares in the company, valued at approximately $13,736,123.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Diamondback Energy Stock Up 1.2 %

Shares of NASDAQ:FANG opened at $197.34 on Friday. The company has a 50 day moving average of $200.41 and a two-hundred day moving average of $175.54. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $35.19 billion, a price-to-earnings ratio of 11.12 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANGGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the business earned $4.10 EPS. The business’s revenue was up 15.7% on a year-over-year basis. As a group, analysts forecast that Diamondback Energy, Inc. will post 19.04 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s payout ratio is 20.29%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Soltis Investment Advisors LLC purchased a new position in shares of Diamondback Energy during the 1st quarter valued at approximately $210,000. Boston Partners raised its holdings in Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after acquiring an additional 1,916,900 shares in the last quarter. Cetera Advisors LLC boosted its stake in Diamondback Energy by 345.2% during the 1st quarter. Cetera Advisors LLC now owns 13,963 shares of the oil and natural gas company’s stock valued at $2,767,000 after acquiring an additional 10,827 shares during the last quarter. Cetera Investment Advisers grew its holdings in Diamondback Energy by 265.6% during the 1st quarter. Cetera Investment Advisers now owns 46,488 shares of the oil and natural gas company’s stock worth $9,213,000 after acquiring an additional 33,772 shares in the last quarter. Finally, Invst LLC bought a new stake in shares of Diamondback Energy in the 1st quarter worth about $820,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FANG shares. Morgan Stanley lowered their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Evercore ISI upped their price objective on shares of Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. StockNews.com lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank of Canada boosted their target price on shares of Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Finally, Scotiabank increased their price target on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.95.

Read Our Latest Analysis 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.

Further Reading

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

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