Diamondback Energy Inc (NASDAQ:FANG) Director Michael P. Cross sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $104.75, for a total transaction of $104,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Diamondback Energy stock traded down $0.98 on Thursday, reaching $97.27. The stock had a trading volume of 263,748 shares, compared to its average volume of 1,593,057. Diamondback Energy Inc has a 1 year low of $85.19 and a 1 year high of $140.78. The company has a market cap of $17.13 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 0.51 and a beta of 0.83. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $97.23 and its two-hundred day moving average is $102.43.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.04). Diamondback Energy had a return on equity of 6.50% and a net margin of 26.92%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company posted $1.59 earnings per share. The company’s quarterly revenue was up 93.7% compared to the same quarter last year. On average, equities analysts anticipate that Diamondback Energy Inc will post 7.13 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in FANG. Vanguard Group Inc. lifted its position in Diamondback Energy by 1.6% during the second quarter. Vanguard Group Inc. now owns 17,698,267 shares of the oil and natural gas company’s stock valued at $1,928,581,000 after buying an additional 275,764 shares during the period. BlackRock Inc. raised its position in shares of Diamondback Energy by 4.7% in the 2nd quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock worth $1,167,931,000 after purchasing an additional 485,647 shares during the last quarter. Corvex Management LP raised its position in shares of Diamondback Energy by 10.7% in the 2nd quarter. Corvex Management LP now owns 2,935,307 shares of the oil and natural gas company’s stock worth $319,860,000 after purchasing an additional 283,785 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Diamondback Energy in the 2nd quarter worth about $303,291,000. Finally, Geode Capital Management LLC raised its position in shares of Diamondback Energy by 128.1% in the 4th quarter. Geode Capital Management LLC now owns 2,040,175 shares of the oil and natural gas company’s stock worth $188,797,000 after purchasing an additional 1,145,573 shares during the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. KeyCorp upped their price objective on shares of Diamondback Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. dropped their price objective on shares of Diamondback Energy from $155.00 to $149.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Oppenheimer dropped their price objective on shares of Diamondback Energy from $151.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Northland Securities reaffirmed a “buy” rating and set a $150.00 price objective on shares of Diamondback Energy in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $156.00 price objective on shares of Diamondback Energy in a report on Sunday, August 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Diamondback Energy has a consensus rating of “Buy” and a consensus target price of $152.95.
About Diamondback Energy
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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