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 company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at $1,516,241.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Diamondback Energy Stock Performance

FANG stock traded down $0.51 during midday trading on Tuesday, hitting $203.68. 1,244,772 shares of the stock traded hands, compared to its average volume of 1,740,122. The stock’s fifty day simple moving average is $196.03 and its 200-day simple moving average is $171.08. The firm has a market cap of $36.32 billion, a P/E ratio of 11.46 and a beta of 1.91. Diamondback Energy, Inc. has a 1-year low of $123.41 and a 1-year high of $211.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89.

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

Diamondback Energy Cuts Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on FANG shares. Mizuho raised their price target on Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their target price for the company from $129.00 to $170.00 in a research report on Monday, February 12th. Truist Financial raised their price target on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. StockNews.com upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. Finally, UBS Group increased their price objective on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $205.68.

Institutional Trading of Diamondback Energy

Large investors have recently added to or reduced their stakes in the stock. Founders Capital Management grew its holdings in shares of Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 101 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of Diamondback Energy in the 4th quarter valued at approximately $27,000. BluePath Capital Management LLC acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $28,000. Logan Capital Management Inc. purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at approximately $31,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $34,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Company Profile

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.