Charles Alvin Meloy Sells 60,605 Shares of Diamondback Energy (NASDAQ:FANG) Stock

Diamondback Energy, Inc. (NASDAQ:FANG) Director Charles Alvin Meloy sold 60,605 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $161.12, for a total value of $9,764,677.60. Following the completion of the sale, the director directly owned 982,006 shares of the company’s stock, valued at approximately $158,220,806.72. This trade represents a 5.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Charles Alvin Meloy also recently made the following trade(s):

• On Thursday, December 4th, Charles Alvin Meloy sold 377,911 shares of Diamondback Energy stock. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71.

Diamondback Energy Trading Down 2.5%

Shares of NASDAQ FANG opened at $164.78 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $169.49. The business has a 50-day moving average price of $153.39 and a two-hundred day moving average price of $146.95. The firm has a market capitalization of $47.19 billion, a PE ratio of 11.45 and a beta of 0.63.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The firm’s quarterly revenue was up 48.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 EPS. As a group, analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Institutional Trading of Diamondback Energy

Several large investors have recently made changes to their positions in the stock. Uhlmann Price Securities LLC lifted its holdings in Diamondback Energy by 1.3% in the 2nd quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock worth $699,000 after purchasing an additional 67 shares during the last quarter. Scotia Capital Inc. raised its position in shares of Diamondback Energy by 0.3% in the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock valued at $2,822,000 after purchasing an additional 68 shares during the period. Equitable Trust Co. lifted its stake in shares of Diamondback Energy by 0.7% in the third quarter. Equitable Trust Co. now owns 10,030 shares of the oil and natural gas company’s stock worth $1,435,000 after buying an additional 73 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Diamondback Energy by 3.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,568 shares of the oil and natural gas company’s stock worth $367,000 after buying an additional 74 shares during the period. Finally, Townsend & Associates Inc grew its stake in Diamondback Energy by 0.5% in the 4th quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock valued at $2,161,000 after buying an additional 75 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Roth Mkm set a $162.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 29th. Wall Street Zen lowered Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Jefferies Financial Group reiterated a “hold” rating and set a $173.00 price target on shares of Diamondback Energy in a report on Monday, January 19th. Finally, Sanford C. Bernstein dropped their price objective on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $185.90.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.