Hof Matthew Kaes Van’t Sells 10,000 Shares of Diamondback Energy, Inc. (NASDAQ:FANG) Stock

Diamondback Energy, Inc. (NASDAQ:FANG) President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the sale, the president now directly owns 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $141.95 on Friday. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. The stock has a market capitalization of $41.47 billion, a P/E ratio of 8.13, a PEG ratio of 1.24 and a beta of 1.06. The firm has a fifty day simple moving average of $141.32 and a two-hundred day simple moving average of $158.36. 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 (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same period last year, the company posted $4.50 EPS. The business’s revenue was up 81.8% on a year-over-year basis. On average, analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be issued a $1.00 dividend. The ex-dividend date is Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.82%. Diamondback Energy’s dividend payout ratio (DPR) is presently 24.46%.

Wall Street Analyst Weigh In

FANG has been the subject of a number of analyst reports. Mizuho reduced their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating for the company in a research note on Tuesday. Piper Sandler cut their target price on shares of Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating for the company in a research note on Tuesday. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research note on Wednesday, March 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Diamondback Energy in a research note on Tuesday, April 15th. Finally, KeyCorp cut their target price on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $194.09.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors have recently made changes to their positions in FANG. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Diamondback Energy by 4.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,608 shares of the oil and natural gas company’s stock worth $2,863,000 after acquiring an additional 637 shares during the last quarter. Czech National Bank lifted its holdings in shares of Diamondback Energy by 6.2% in the 4th quarter. Czech National Bank now owns 40,518 shares of the oil and natural gas company’s stock worth $6,638,000 after acquiring an additional 2,352 shares during the last quarter. Fragasso Financial Advisors Inc lifted its holdings in shares of Diamondback Energy by 3.8% in the 4th quarter. Fragasso Financial Advisors Inc now owns 1,928 shares of the oil and natural gas company’s stock worth $316,000 after acquiring an additional 70 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Diamondback Energy by 1.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 12,576 shares of the oil and natural gas company’s stock worth $2,060,000 after acquiring an additional 208 shares during the last quarter. Finally, Signal Advisors Wealth LLC lifted its holdings in shares of Diamondback Energy by 78.6% in the 4th quarter. Signal Advisors Wealth LLC now owns 16,839 shares of the oil and natural gas company’s stock worth $2,759,000 after acquiring an additional 7,412 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

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.