Matt Zmigrosky Sells 5,000 Shares of Diamondback Energy (NASDAQ:FANG) Stock

Key Points

• Diamondback Energy EVP Matt Zmigrosky sold 5,000 shares on May 13 at an average price of $200.10, totaling about $1.0 million. After the sale, he still held 51,392 shares, and the transaction reduced his position by 8.87%.
• The company beat first-quarter expectations, reporting EPS of $4.23 versus the $3.74 consensus and revenue of $4.24 billion versus $3.83 billion expected. Revenue also rose 4.7% year over year.
• Diamondback raised its quarterly dividend to $1.10 per share from $1.05, which implies an annualized dividend of $4.40 and a 2.2% yield. Analysts remain generally positive, with a consensus rating of Buy and an average price target of $218.25.

Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) EVP Matt Zmigrosky sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $200.10, for a total value of $1,000,500.00. Following the completion of the transaction, the executive vice president owned 51,392 shares in the company, valued at $10,283,539.20. The trade was a 8.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Matt Zmigrosky also recently made the following trade(s):

• On Wednesday, March 18th, Matt Zmigrosky sold 4,101 shares of Diamondback Energy stock. The stock was sold at an average price of $190.51, for a total value of $781,281.51.
• On Friday, March 13th, Matt Zmigrosky sold 20,899 shares of Diamondback Energy stock. The stock was sold at an average price of $180.00, for a total value of $3,761,820.00.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded down $0.84 during midday trading on Thursday, reaching $200.26. The company's stock had a trading volume of 1,568,384 shares, compared to its average volume of 2,910,747. Diamondback Energy, Inc. has a 12-month low of $132.20 and a 12-month high of $214.51. The firm has a 50 day moving average price of $190.73 and a 200-day moving average price of $167.13. The stock has a market capitalization of $56.34 billion, a P/E ratio of 232.86 and a beta of 0.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping analysts' consensus estimates of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. Diamondback Energy's revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.54 EPS. As a group, equities analysts predict that Diamondback Energy, Inc. will post 18.87 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 14th will be issued a $1.10 dividend. This is a boost from Diamondback Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy's payout ratio is presently 488.37%.

Analysts Set New Price Targets

FANG has been the topic of a number of research reports. Citigroup lifted their price target on shares of Diamondback Energy from $178.00 to $230.00 and gave the stock a "buy" rating in a report on Monday, March 30th. Scotiabank lifted their price target on shares of Diamondback Energy from $175.00 to $195.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 22nd. Jefferies Financial Group reaffirmed a "hold" rating and issued a $173.00 price target on shares of Diamondback Energy in a report on Monday, January 19th. Sanford C. Bernstein lifted their price target on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Mizuho lifted their price target on shares of Diamondback Energy from $205.00 to $220.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of "Buy" and a consensus price target of $218.25.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Compound Planning Inc. raised its holdings in Diamondback Energy by 42.7% during the 1st quarter. Compound Planning Inc. now owns 2,938 shares of the oil and natural gas company's stock valued at $581,000 after acquiring an additional 879 shares during the period. Inceptionr LLC bought a new position in shares of Diamondback Energy in the first quarter worth $550,000. Sei Investments Co. increased its holdings in shares of Diamondback Energy by 7.5% in the first quarter. Sei Investments Co. now owns 140,846 shares of the oil and natural gas company's stock worth $27,858,000 after purchasing an additional 9,867 shares during the period. State of Wyoming increased its holdings in shares of Diamondback Energy by 327.1% in the first quarter. State of Wyoming now owns 1,072 shares of the oil and natural gas company's stock worth $212,000 after purchasing an additional 821 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of Diamondback Energy by 2.3% in the first quarter. Cetera Investment Advisers now owns 72,436 shares of the oil and natural gas company's stock worth $14,327,000 after purchasing an additional 1,655 shares during the period. Institutional investors own 90.01% of the company's stock.

About Diamondback Energy

Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.

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.