Diamondback Energy (NASDAQ:FANG) Director Mark Lawrence Plaumann Sells 500 Shares of Stock

Diamondback Energy, Inc. (NASDAQ:FANG) Director Mark Lawrence Plaumann sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director directly owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This trade represents a 3.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Diamondback Energy Trading Up 1.2%

Shares of Diamondback Energy stock opened at $196.55 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $214.51. The stock has a 50 day moving average price of $195.80 and a two-hundred day moving average price of $174.93. The stock has a market capitalization of $55.29 billion, a PE ratio of 228.55 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the firm posted $4.54 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 19.65 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy’s payout ratio is 511.63%.

Analyst Ratings Changes

A number of brokerages have commented on FANG. Truist Financial set a $242.00 price objective on Diamondback Energy in a research note on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a report on Wednesday, May 27th. Wells Fargo & Company raised their target price on Diamondback Energy from $202.00 to $262.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Susquehanna raised their target price on Diamondback Energy from $231.00 to $245.00 and gave the company a “positive” rating in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $223.63.

Institutional Trading of Diamondback Energy

A number of hedge funds have recently bought and sold shares of the business. Deseret Mutual Benefit Administrators lifted its holdings in Diamondback Energy by 31.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock worth $41,000 after acquiring an additional 66 shares during the period. Scotia Capital Inc. lifted its holdings in Diamondback Energy by 0.3% during the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after acquiring an additional 68 shares during the period. Equitable Trust Co. lifted its holdings in Diamondback Energy by 0.7% during the third quarter. Equitable Trust Co. now owns 10,030 shares of the oil and natural gas company’s stock worth $1,435,000 after acquiring an additional 73 shares during the period. Townsend & Associates Inc lifted its holdings in Diamondback Energy by 0.5% during the fourth quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock worth $2,161,000 after acquiring an additional 75 shares during the period. Finally, Capital Financial Group Inc. Co. ADV lifted its holdings in Diamondback Energy by 2.1% during the first quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock worth $709,000 after acquiring an additional 75 shares during the period. 90.01% of the stock is currently owned by institutional investors.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.