Short Interest in Diamondback Energy, Inc. (NASDAQ:FANG) Expands By 11.5%

Diamondback Energy, Inc. (NASDAQ:FANGGet Free Report) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 5,510,000 shares, a growth of 11.5% from the February 29th total of 4,940,000 shares. Approximately 3.1% of the company’s shares are short sold. Based on an average daily volume of 1,810,000 shares, the short-interest ratio is currently 3.0 days.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Stifel Nicolaus increased their price objective on shares of Diamondback Energy from $192.00 to $224.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $195.00 price target on shares of Diamondback Energy in a research report on Monday, March 4th. Piper Sandler lifted their price objective on shares of Diamondback Energy from $222.00 to $227.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. UBS Group upped their price objective on shares of Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Bank of America raised shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $129.00 to $170.00 in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.11.

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Insider Activity

In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total value of $2,289,840.00. Following the sale, the chief financial officer now directly owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares in the company, valued at approximately $35,470,003.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, the chief operating officer now directly owns 78,218 shares in the company, valued at approximately $15,031,153.06. The disclosure for this sale can be found here. Insiders sold 27,675 shares of company stock valued at $5,311,096 in the last ninety days. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

A number of hedge funds have recently made changes to their positions in FANG. AlphaCrest Capital Management LLC boosted its stake in shares of Diamondback Energy by 6.0% in the first quarter. AlphaCrest Capital Management LLC now owns 3,156 shares of the oil and natural gas company’s stock worth $433,000 after acquiring an additional 178 shares during the last quarter. Raymond James Trust N.A. raised its stake in Diamondback Energy by 8.2% in the 1st quarter. Raymond James Trust N.A. now owns 4,932 shares of the oil and natural gas company’s stock valued at $676,000 after purchasing an additional 374 shares during the last quarter. Cibc World Market Inc. lifted its holdings in Diamondback Energy by 13.6% in the 1st quarter. Cibc World Market Inc. now owns 34,403 shares of the oil and natural gas company’s stock valued at $4,716,000 after purchasing an additional 4,129 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in Diamondback Energy during the 1st quarter worth $223,000. Finally, Blair William & Co. IL acquired a new stake in Diamondback Energy during the 1st quarter worth $205,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.5 %

Shares of NASDAQ:FANG opened at $200.37 on Wednesday. The business’s 50 day moving average price is $175.73 and its 200-day moving average price is $162.84. Diamondback Energy has a 1 year low of $123.41 and a 1 year high of $200.66. The firm has a market capitalization of $35.76 billion, a price-to-earnings ratio of 11.56 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74.

Diamondback Energy (NASDAQ:FANGGet Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.13. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $5.29 earnings per share. On average, equities research analysts forecast that Diamondback Energy will post 17.93 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a $3.08 dividend. This represents a $12.32 annualized dividend and a yield of 6.15%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s payout ratio is presently 20.76%.

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.

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