Diamondback Energy, Inc. (NASDAQ:FANG) Short Interest Up 23.6% in November

Diamondback Energy, Inc. (NASDAQ:FANG) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 6,390,000 shares, a growth of 23.6% from the October 31st total of 5,170,000 shares. Based on an average daily trading volume, of 2,320,000 shares, the short-interest ratio is presently 2.8 days.

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

Several hedge funds have recently bought and sold shares of FANG. First Community Trust NA acquired a new position in shares of Diamondback Energy during the 2nd quarter worth $26,000. Carolinas Wealth Consulting LLC lifted its holdings in shares of Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the second quarter worth about $40,000. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at approximately $42,000. Finally, Founders Capital Management grew its holdings in shares of Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 125 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FANG shares. The Goldman Sachs Group started coverage on Diamondback Energy in a research note on Monday. They issued a “buy” rating and a $227.00 price target on the stock. Susquehanna cut their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy in a research note on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price target for the company. Jefferies Financial Group started coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They issued a “hold” rating and a $185.00 price objective on the stock. Finally, Scotiabank decreased their target price on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.65.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded down $1.76 on Monday, reaching $175.83. 1,719,168 shares of the company’s stock were exchanged, compared to its average volume of 1,759,684. Diamondback Energy has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a fifty day moving average of $181.95 and a 200-day moving average of $189.82. The company has a market capitalization of $51.34 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 1.31 and a beta of 1.89. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $5.49 EPS. On average, research analysts predict that Diamondback Energy will post 16.26 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.05%. Diamondback Energy’s dividend payout ratio is 20.61%.

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.