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 the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now 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 legal filing with the SEC, which can be accessed through this hyperlink.

Diamondback Energy Stock Down 3.2 %

Shares of Diamondback Energy stock opened at $176.60 on Friday. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The firm’s 50 day moving average price is $181.23 and its 200-day moving average price is $191.63. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market cap of $51.57 billion, a P/E ratio of 10.11, a PEG ratio of 1.30 and a beta of 1.89.

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). 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 analyst estimates of $2.43 billion. During the same period in the previous year, the company posted $5.49 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, sell-side 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. Shareholders of record on Thursday, November 14th will be paid a $0.90 dividend. 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 dividend payout ratio (DPR) is presently 20.61%.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors have recently added to or reduced their stakes in the business. Quent Capital LLC raised its stake in shares of Diamondback Energy by 7.2% in the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after purchasing an additional 54 shares during the last quarter. Carolinas Wealth Consulting LLC raised its position in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Financial Advocates Investment Management lifted its stake in Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after acquiring an additional 55 shares during the period. Sugarloaf Wealth Management LLC boosted its holdings in shares of Diamondback Energy by 0.3% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock valued at $3,999,000 after acquiring an additional 56 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Diamondback Energy by 16.1% in the second quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock worth $82,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the subject of several recent analyst reports. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. UBS Group dropped their price objective on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Truist Financial increased their target price on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. KeyCorp lowered their target price on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.64.

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.