Rep. Greg Landsman Sells Diamondback Energy, Inc. (NASDAQ:FANG) Stock

Representative Greg Landsman (D-Ohio) recently sold shares of Diamondback Energy, Inc. (NASDAQ:FANG). In a filing disclosed on November 14th, the Representative disclosed that they had sold between $15,001 and $50,000 in Diamondback Energy stock on October 15th. The trade occurred in the Representative’s “SARAH LANDSMAN TRADITIONAL IRA” account.

Representative Greg Landsman also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Pfizer (NYSE:PFE) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Cheniere Energy (NYSE:LNG) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Phillips 66 (NYSE:PSX) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Linde (NASDAQ:LIN) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of CrowdStrike (NASDAQ:CRWD) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Exxon Mobil (NYSE:XOM) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Amazon.com (NASDAQ:AMZN) on 10/15/2024.
• Purchased $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 9/10/2024.

Diamondback Energy Price Performance

Shares of FANG opened at $176.60 on Friday. The stock has a market cap of $51.57 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.30 and a beta of 1.89. The business’s fifty day moving average is $181.16 and its 200 day moving average is $191.43. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm earned $5.49 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 16.78 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. Diamondback Energy’s dividend payout ratio is 20.61%.

Hedge Funds Weigh In On Diamondback Energy

Several hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in shares of Diamondback Energy by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after buying an additional 2,381,488 shares during the period. Boston Partners boosted its holdings in Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after purchasing an additional 1,916,900 shares during the period. Zimmer Partners LP purchased a new position in shares of Diamondback Energy during the 3rd quarter valued at $87,924,000. Holocene Advisors LP increased its holdings in shares of Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after purchasing an additional 457,896 shares during the period. Finally, Homestead Advisers Corp bought a new stake in Diamondback Energy during the first quarter valued at $87,940,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Wednesday, November 6th. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Benchmark reiterated a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday, October 29th. KeyCorp dropped their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Johnson Rice downgraded shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $209.64.

About Representative Landsman

Greg Landsman (Democratic Party) is a member of the U.S. House, representing Ohio’s 1st Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Landsman is also a member of the Cincinnati City Council in Ohio. He assumed office on January 2, 2018. His current term ends on January 1, 2024. Landsman (Democratic Party) is running for re-election to the U.S. House to represent Ohio’s 1st Congressional District. He declared candidacy for the 2024 election. Greg Landsman was born in Cincinnati, Ohio, and lives in Mt. Washington, Ohio. Landsman earned a B.A. in economics and political science from Ohio University and an M.A. in theological studies, religion, and public policy from Harvard University in 2004. His career experience includes working as the executive director of The Strive Partnership with the KnowledgeWorks Foundation and the director of the Ohio Governor’s Office of Faith-Based and Community Initiatives.

About Diamondback Energy

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.