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Insider Selling: Diamondback Energy, Inc. (NASDAQ:FANG) Chairman Sells 20,400 Shares of Stock

Diamondback Energy logo with Energy background

Key Points

  • Travis D. Stice, Chairman of Diamondback Energy, sold **20,400 shares** at an average price of **$142.80**, resulting in a total sale value of **$2,913,120** and a **16.65% decrease** in his ownership stake.
  • Diamondback Energy reported **earnings per share** of **$2.67** for the last quarter, missing expectations by **$0.05**, but achieved a revenue of **$3.68 billion**, exceeding analyst estimates.
  • The company announced a **quarterly dividend** of **$1.00** per share, which equates to an annualized dividend of **$4.00** and a yield of **2.9%**, with the ex-dividend date set for **August 14th**.
  • Looking to export and analyze Diamondback Energy data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) Chairman Travis D. Stice sold 20,400 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares in the company, valued at $14,586,306. The trade was a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Diamondback Energy Stock Up 0.3%

Shares of FANG traded up $0.35 during mid-day trading on Wednesday, hitting $138.84. 550,889 shares of the company's stock were exchanged, compared to its average volume of 2,458,072. The company has a market cap of $40.19 billion, a PE ratio of 9.87 and a beta of 1.09. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47. The company has a 50-day simple moving average of $143.58 and a 200 day simple moving average of $145.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the business posted $4.52 earnings per share. Diamondback Energy's quarterly revenue was up 48.1% compared to the same quarter last year. On average, research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.9%. Diamondback Energy's dividend payout ratio (DPR) is currently 28.43%.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Bank of America increased their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Raymond James Financial increased their price objective on shares of Diamondback Energy from $204.00 to $221.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered shares of Diamondback Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, UBS Group dropped their price objective on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $191.59.

Check Out Our Latest Stock Analysis on FANG

Institutional Investors Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its position in Diamondback Energy by 4.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock valued at $5,784,000 after acquiring an additional 1,384 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Diamondback Energy by 6.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock worth $9,409,000 after acquiring an additional 3,467 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Diamondback Energy by 50.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company's stock worth $1,143,000 after acquiring an additional 2,397 shares in the last quarter. Wealth Advisory Solutions LLC acquired a new position in Diamondback Energy during the first quarter worth about $2,631,000. Finally, Requisite Capital Management LLC raised its stake in Diamondback Energy by 501.7% during the first quarter. Requisite Capital Management LLC now owns 59,281 shares of the oil and natural gas company's stock worth $9,478,000 after acquiring an additional 49,428 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

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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