Insider Selling: Diamondback Energy Inc (FANG) VP Sells 5,000 Shares of Stock
Diamondback Energy Inc (NASDAQ:FANG) VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total transaction of $560,900.00. Following the sale, the vice president now directly owns 117,107 shares in the company, valued at approximately $13,137,063.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NASDAQ FANG traded down $4.92 during mid-day trading on Wednesday, reaching $108.88. The company had a trading volume of 1,444,321 shares, compared to its average volume of 1,881,641. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.32. The stock has a market cap of $18.20 billion, a PE ratio of 18.55, a PEG ratio of 0.67 and a beta of 0.80. Diamondback Energy Inc has a 52 week low of $85.19 and a 52 week high of $140.78.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.03. The firm had revenue of $864.00 million for the quarter, compared to analysts’ expectations of $893.16 million. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The business’s revenue for the quarter was up 80.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share. As a group, sell-side analysts forecast that Diamondback Energy Inc will post 8.08 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of FANG. BlackRock Inc. grew its holdings in Diamondback Energy by 103.8% during the 4th quarter. BlackRock Inc. now owns 10,172,829 shares of the oil and natural gas company’s stock worth $943,023,000 after acquiring an additional 5,181,063 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Diamondback Energy by 28,126.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock worth $32,000 after acquiring an additional 2,971,317 shares in the last quarter. Boston Partners grew its holdings in Diamondback Energy by 135.9% during the 4th quarter. Boston Partners now owns 3,424,654 shares of the oil and natural gas company’s stock worth $317,465,000 after acquiring an additional 1,973,018 shares in the last quarter. Norges Bank bought a new position in Diamondback Energy during the 4th quarter worth about $141,883,000. Finally, JPMorgan Chase & Co. grew its holdings in Diamondback Energy by 11.4% during the 1st quarter. JPMorgan Chase & Co. now owns 13,528,463 shares of the oil and natural gas company’s stock worth $1,373,546,000 after acquiring an additional 1,388,245 shares in the last quarter.
A number of research analysts have weighed in on FANG shares. Williams Capital reiterated a “buy” rating and set a $165.00 price objective on shares of Diamondback Energy in a research report on Wednesday, May 8th. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $147.00 to $154.00 and gave the company an “overweight” rating in a research report on Thursday, February 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $148.00 price objective on shares of Diamondback Energy in a research report on Monday, March 11th. BidaskClub upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 15th. Finally, KeyCorp boosted their price objective on shares of Diamondback Energy from $116.00 to $124.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $161.04.
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Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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