Short Interest in Diamondback Energy, Inc. (NASDAQ:FANG) Increases By 11.5%

Diamondback Energy, Inc. (NASDAQ:FANGGet Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 5,510,000 shares, an increase of 11.5% from the February 29th total of 4,940,000 shares. Currently, 3.1% of the company’s stock are short sold. Based on an average trading volume of 1,810,000 shares, the days-to-cover ratio is currently 3.0 days.

Diamondback Energy Trading Up 0.5 %

Shares of FANG stock opened at $200.37 on Wednesday. The business has a 50-day moving average price of $175.73 and a two-hundred day moving average price of $162.84. Diamondback Energy has a 12-month low of $123.41 and a 12-month high of $200.66. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. The firm has a market cap of $35.76 billion, a P/E ratio of 11.56 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANGGet Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. Diamondback Energy’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $5.29 EPS. Equities analysts anticipate that Diamondback Energy will post 17.93 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were paid a $3.08 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.15%. Diamondback Energy’s dividend payout ratio is 20.76%.

Insider Buying and Selling

In other news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the transaction, the chief financial officer now owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares in the company, valued at approximately $35,470,003.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the sale, the chief operating officer now owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The disclosure for this sale can be found here. Insiders have sold a total of 27,675 shares of company stock valued at $5,311,096 over the last ninety days. 0.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Diamondback Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. AlphaCrest Capital Management LLC lifted its stake in shares of Diamondback Energy by 6.0% in the 1st quarter. AlphaCrest Capital Management LLC now owns 3,156 shares of the oil and natural gas company’s stock valued at $433,000 after acquiring an additional 178 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Diamondback Energy by 8.2% during the first quarter. Raymond James Trust N.A. now owns 4,932 shares of the oil and natural gas company’s stock valued at $676,000 after purchasing an additional 374 shares during the period. Cibc World Market Inc. grew its holdings in shares of Diamondback Energy by 13.6% in the first quarter. Cibc World Market Inc. now owns 34,403 shares of the oil and natural gas company’s stock worth $4,716,000 after purchasing an additional 4,129 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in Diamondback Energy during the 1st quarter valued at $223,000. Finally, Blair William & Co. IL purchased a new position in shares of Diamondback Energy in the first quarter valued at about $205,000. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of a number of analyst reports. Mizuho lifted their price target on Diamondback Energy from $177.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Scotiabank lifted their target price on shares of Diamondback Energy from $180.00 to $200.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, February 13th. Stifel Nicolaus increased their price target on shares of Diamondback Energy from $192.00 to $224.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Evercore ISI lifted their price objective on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Finally, Susquehanna upped their price objective on Diamondback Energy from $190.00 to $195.00 and gave the company a “positive” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.11.

View Our Latest Stock Analysis on Diamondback Energy

Diamondback Energy Company Profile

(Get Free Report)

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.

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