Diamondback Energy, Inc. (NASDAQ:FANG) CAO Teresa L. Dick sold 5,000 shares of Diamondback Energy stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $89.50, for a total value of $447,500.00. Following the completion of the transaction, the chief accounting officer now owns 62,985 shares in the company, valued at $5,637,157.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of FANG stock traded down $1.29 on Thursday, hitting $86.99. The company had a trading volume of 1,767,003 shares, compared to its average volume of 2,826,995. The stock has a market capitalization of $15.74 billion, a price-to-earnings ratio of -3.45 and a beta of 2.75. The company’s 50-day simple moving average is $79.73. The company has a current ratio of 0.46, a quick ratio of 0.43 and a debt-to-equity ratio of 0.64. Diamondback Energy, Inc. has a twelve month low of $23.63 and a twelve month high of $92.11.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Sunday, May 2nd. The oil and natural gas company reported $2.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.57. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $864.18 million. Diamondback Energy had a positive return on equity of 5.73% and a negative net margin of 129.92%. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.45 EPS. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 8.61 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. purchased a new position in shares of Diamondback Energy in the 1st quarter valued at about $26,000. Whittier Trust Co. increased its stake in shares of Diamondback Energy by 63.9% in the 1st quarter. Whittier Trust Co. now owns 395 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 154 shares in the last quarter. First Horizon Corp increased its stake in shares of Diamondback Energy by 241.3% in the 1st quarter. First Horizon Corp now owns 512 shares of the oil and natural gas company’s stock valued at $37,000 after purchasing an additional 362 shares in the last quarter. Vantage Consulting Group Inc purchased a new position in shares of Diamondback Energy in the 4th quarter valued at about $26,000. Finally, Bessemer Group Inc. increased its stake in shares of Diamondback Energy by 31.0% in the 1st quarter. Bessemer Group Inc. now owns 579 shares of the oil and natural gas company’s stock valued at $43,000 after purchasing an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 88.85% of the company’s stock.
FANG has been the topic of a number of analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Diamondback Energy from $82.00 to $100.00 in a report on Tuesday, March 23rd. KeyCorp lifted their price target on Diamondback Energy from $85.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, April 9th. BMO Capital Markets reissued a “neutral” rating on shares of Diamondback Energy in a research report on Tuesday, April 13th. Truist Securities raised their price objective on Diamondback Energy from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, March 9th. Finally, Scotiabank raised Diamondback Energy from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $86.00 to $95.00 in a research report on Friday, May 21st. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Diamondback Energy has an average rating of “Buy” and a consensus target price of $88.13.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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