Mark Lawrence Plaumann Sells 1,150 Shares of Diamondback Energy, Inc. (NASDAQ:FANG) Stock

Diamondback Energy, Inc. (NASDAQ:FANG) Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded up $1.07 during trading hours on Thursday, hitting $182.42. 1,366,048 shares of the company’s stock traded hands, compared to its average volume of 1,751,359. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The stock has a market capitalization of $53.26 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 1.27 and a beta of 1.89. The company has a fifty day simple moving average of $181.26 and a 200-day simple moving average of $191.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.49 EPS. Equities research analysts anticipate that Diamondback Energy, Inc. will post 17 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be paid a $0.90 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 1.97%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Citigroup started coverage on Diamondback Energy in a research report on Monday, October 14th. They set a “neutral” rating and a $195.00 target price on the stock. Evercore ISI lowered their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Finally, Truist Financial upped their target price on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.64.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FANG. QRG Capital Management Inc. raised its holdings in shares of Diamondback Energy by 213.8% in the 1st quarter. QRG Capital Management Inc. now owns 6,542 shares of the oil and natural gas company’s stock valued at $1,297,000 after acquiring an additional 4,457 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Diamondback Energy by 2.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,118 shares of the oil and natural gas company’s stock valued at $1,014,000 after acquiring an additional 114 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Diamondback Energy by 28.2% during the 1st quarter. Bleakley Financial Group LLC now owns 3,994 shares of the oil and natural gas company’s stock valued at $791,000 after buying an additional 879 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Diamondback Energy by 20.8% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 424 shares of the oil and natural gas company’s stock valued at $84,000 after buying an additional 73 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Diamondback Energy by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 206,136 shares of the oil and natural gas company’s stock valued at $40,850,000 after buying an additional 5,102 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Company Profile

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.