Diamondback Energy (NASDAQ:FANG) Director Travis Stice Sells 75,000 Shares of Stock

Key Points

• Director Travis Stice sold 75,000 Diamondback Energy shares at an average price of $204.31, generating approximately $15.3 million. The transaction reduced his direct holdings by 60.13% to 49,727 shares.
• Diamondback Energy shares rose 0.4% to $205.72, near the company’s 12-month high of $216.90. The company recently exceeded quarterly earnings and revenue expectations, reporting $6.48 in EPS and $5.56 billion in revenue.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $224.55. Diamondback also pays a quarterly dividend of $1.10, equivalent to a 2.1% annualized yield.

Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) Director Travis Stice sold 75,000 shares of Diamondback Energy stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $204.31, for a total value of $15,323,250.00. Following the completion of the transaction, the director directly owned 49,727 shares in the company, valued at $10,159,723.37. This represents a 60.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Diamondback Energy Trading Up 0.4%

NASDAQ FANG traded up $0.75 on Monday, hitting $205.72. 1,769,241 shares of the company were exchanged, compared to its average volume of 2,547,731. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $216.90. The firm has a market capitalization of $57.61 billion, a P/E ratio of 40.10 and a beta of 0.43. The company's 50 day moving average price is $197.79 and its 200-day moving average price is $192.88.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, topping the consensus estimate of $6.08 by $0.40. The company had revenue of $5.56 billion during the quarter, compared to analysts' expectations of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business's revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the company posted $2.38 earnings per share. Analysts predict that Diamondback Energy, Inc. will post 19.94 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a $1.10 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. Diamondback Energy's dividend payout ratio (DPR) is currently 85.77%.

Wall Street Analyst Weigh In

FANG has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on Diamondback Energy from $262.00 to $263.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Barclays lowered their price target on Diamondback Energy from $232.00 to $221.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. Truist Financial upped their price target on Diamondback Energy from $220.00 to $224.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Morgan Stanley reissued an "equal weight" rating and issued a $216.00 price objective on shares of Diamondback Energy in a research note on Wednesday, August 19th. Finally, Roth Capital set a $212.00 price objective on Diamondback Energy and gave the stock a "buy" rating in a research report on Monday, June 22nd. Four research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $224.55.

Institutional Investors Weigh In On Diamondback Energy

A number of institutional investors have recently modified their holdings of FANG. Cedar Mountain Advisors LLC purchased a new stake in shares of Diamondback Energy during the first quarter worth $26,000. Wellington Shields & Co. LLC increased its position in Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock worth $28,000 after purchasing an additional 135 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Diamondback Energy in the 2nd quarter worth about $28,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Diamondback Energy during the 4th quarter worth about $31,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico. The company's operations are concentrated primarily in the Midland and Delaware sub-basins.

Diamondback produces crude oil, natural gas and natural gas liquids. Its activities include drilling and completing horizontal wells, operating gathering and infrastructure assets, and managing mineral and royalty interests through its Viper Energy platform.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.