Diamondback Energy, Inc. (NASDAQ:FANG) CAO Teresa L. Dick sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $89.50, for a total value of $447,500.00. Following the transaction, the chief accounting officer now owns 62,985 shares in the company, valued at $5,637,157.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of FANG traded down $1.29 during mid-day trading on Thursday, hitting $86.99. 1,767,003 shares of the company’s stock were exchanged, compared to its average volume of 2,826,995. Diamondback Energy, Inc. has a fifty-two week low of $23.63 and a fifty-two week high of $92.11. The stock has a market cap of $15.74 billion, a price-to-earnings ratio of -3.45 and a beta of 2.75. The company has a 50 day simple moving average of $79.73. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.46 and a quick ratio of 0.43.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Sunday, May 2nd. The oil and natural gas company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.57. Diamondback Energy had a negative net margin of 129.92% and a positive return on equity of 5.73%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $864.18 million. During the same quarter in the prior year, the firm earned $1.45 earnings per share. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, analysts expect that Diamondback Energy, Inc. will post 8.61 earnings per share for the current year.
Several brokerages have recently issued reports on FANG. Barclays increased their price objective on Diamondback Energy from $82.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, June 3rd. Evercore ISI began coverage on Diamondback Energy in a research note on Wednesday, April 7th. They issued an “outperform” rating on the stock. Royal Bank of Canada increased their price objective on Diamondback Energy from $90.00 to $107.00 and gave the company an “outperform” rating in a research note on Wednesday, May 5th. TD Securities increased their price objective on Diamondback Energy from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, May 4th. Finally, Truist Securities increased their price objective on Diamondback Energy from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, March 9th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $88.13.
Several institutional investors and hedge funds have recently made changes to their positions in FANG. Vantage Consulting Group Inc acquired a new stake in Diamondback Energy in the fourth quarter valued at about $26,000. Contravisory Investment Management Inc. acquired a new stake in Diamondback Energy in the first quarter valued at about $26,000. Whittier Trust Co. lifted its position in Diamondback Energy by 63.9% in the first 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 during the period. AJO LP acquired a new stake in Diamondback Energy in the fourth quarter valued at about $33,000. Finally, First Horizon Corp lifted its position in Diamondback Energy by 241.3% in the first 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 during the period. Institutional investors and hedge funds own 88.85% of the company’s stock.
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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