Diamondback Energy, Inc. (NASDAQ:FANG) Director Mark Lawrence Plaumann Sells 1,150 Shares of Stock

Diamondback Energy, Inc. (NASDAQ:FANG) Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Diamondback Energy Price Performance

FANG stock traded down $1.93 during trading on Friday, hitting $180.49. The company had a trading volume of 293,108 shares, compared to its average volume of 1,744,645. The firm has a market capitalization of $52.70 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 1.30 and a beta of 1.89. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The business has a 50 day moving average of $181.23 and a 200 day moving average of $191.63.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $5.49 earnings per share. As a group, research analysts predict that Diamondback Energy, Inc. will post 16.78 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.99%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FANG shares. UBS Group decreased their price objective on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. Scotiabank cut their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Truist Financial increased their price objective on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $209.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FANG. Holocene Advisors LP increased its stake in Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after acquiring an additional 457,896 shares during the period. Chevy Chase Trust Holdings LLC grew its position in Diamondback Energy by 3.1% in the third quarter. Chevy Chase Trust Holdings LLC now owns 100,726 shares of the oil and natural gas company’s stock valued at $17,365,000 after acquiring an additional 3,054 shares during the period. Concentric Capital Strategies LP acquired a new position in Diamondback Energy during the third quarter worth $4,939,000. Benjamin Edwards Inc. grew its holdings in shares of Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after purchasing an additional 7,694 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in Diamondback Energy during the 3rd quarter valued at about $19,163,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.