Investors Buy High Volume of Call Options on Diamondback Energy (FANG)

Diamondback Energy Inc (NASDAQ:FANG) was the target of unusually large options trading activity on Thursday. Investors bought 23,766 call options on the stock. This is an increase of approximately 1,392% compared to the typical daily volume of 1,593 call options.

In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total value of $255,600.00. Following the sale, the vice president now owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FANG. Capital International Investors purchased a new position in shares of Diamondback Energy in the third quarter worth about $155,469,000. JPMorgan Chase & Co. increased its stake in shares of Diamondback Energy by 15.2% in the third quarter. JPMorgan Chase & Co. now owns 7,478,957 shares of the oil and natural gas company’s stock worth $1,011,079,000 after purchasing an additional 984,124 shares in the last quarter. Wexford Capital LP purchased a new position in Diamondback Energy during the third quarter valued at approximately $116,483,000. Capital World Investors grew its stake in Diamondback Energy by 4.8% during the third quarter. Capital World Investors now owns 11,931,000 shares of the oil and natural gas company’s stock valued at $1,612,952,000 after acquiring an additional 542,279 shares in the last quarter. Finally, Third Point LLC purchased a new position in Diamondback Energy during the third quarter valued at approximately $67,595,000.

Several brokerages have commented on FANG. Raymond James reaffirmed a “buy” rating and issued a $166.00 price objective on shares of Diamondback Energy in a research report on Monday, August 13th. BMO Capital Markets reaffirmed a “hold” rating and issued a $135.00 price objective on shares of Diamondback Energy in a research report on Friday, August 17th. Stephens began coverage on shares of Diamondback Energy in a research report on Thursday. They issued an “overweight” rating and a $177.00 price objective on the stock. TD Securities set a $175.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Saturday, August 11th. Finally, Imperial Capital lifted their price objective on shares of Diamondback Energy from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, August 10th. Five investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $160.27.

FANG opened at $101.82 on Friday. The stock has a market capitalization of $10.64 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 0.60 and a beta of 0.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 1.08. Diamondback Energy has a twelve month low of $96.95 and a twelve month high of $140.78.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.15. The firm had revenue of $538.03 million during the quarter, compared to the consensus estimate of $518.32 million. Diamondback Energy had a net margin of 33.63% and a return on equity of 10.75%. The company’s revenue was up 78.6% on a year-over-year basis. During the same quarter last year, the company earned $1.33 earnings per share. On average, equities research analysts anticipate that Diamondback Energy will post 6.74 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Monday, November 19th were paid a $0.125 dividend. The ex-dividend date was Friday, November 16th. This represents a $0.50 annualized dividend and a dividend yield of 0.49%. Diamondback Energy’s payout ratio is 9.43%.

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About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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