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 Diamondback Energy stock in a transaction 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 completion of the sale, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Diamondback Energy Trading Down 3.2 %

Shares of FANG stock opened at $176.60 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $51.57 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.30 and a beta of 1.89. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The stock’s 50-day moving average price is $181.23 and its 200-day moving average price is $191.63.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data 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 firm had revenue of $2.65 billion during 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 business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.49 EPS. Equities research analysts predict that Diamondback Energy, Inc. will post 16.78 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

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

Analysts Set New Price Targets

FANG has been the subject of a number of recent research reports. Scotiabank cut their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Benchmark reaffirmed a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Wednesday, November 6th. Johnson Rice lowered Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. assumed coverage on Diamondback Energy in a report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price target for the company. 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 issued a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $209.64.

Hedge Funds Weigh In On Diamondback Energy

Institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. raised its position in shares of Diamondback Energy by 213.8% during 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 buying an additional 4,457 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Diamondback Energy by 2.3% during the first quarter. Avantax Advisory Services Inc. now owns 5,118 shares of the oil and natural gas company’s stock worth $1,014,000 after acquiring an additional 114 shares during the last quarter. Bleakley Financial Group LLC raised its position in Diamondback Energy by 28.2% during the first quarter. Bleakley Financial Group LLC now owns 3,994 shares of the oil and natural gas company’s stock valued at $791,000 after purchasing an additional 879 shares during the period. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Diamondback Energy by 20.8% in 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 purchasing an additional 73 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Diamondback Energy by 2.5% in 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 worth $40,850,000 after purchasing an additional 5,102 shares during the period. 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.