Diamondback Energy, Inc. (NASDAQ:FANG) Sees Significant Increase in Short Interest

Diamondback Energy, Inc. (NASDAQ:FANG) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 6,390,000 shares, a growth of 23.6% from the October 31st total of 5,170,000 shares. Based on an average trading volume of 2,320,000 shares, the short-interest ratio is presently 2.8 days.

Insider Activity

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 92.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its stake in Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after purchasing an additional 47,951 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Diamondback Energy during the third quarter valued at $138,000. World Investment Advisors LLC purchased a new position in Diamondback Energy during the third quarter worth about $3,935,000. Sanctuary Advisors LLC increased its stake in Diamondback Energy by 0.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 49,411 shares of the oil and natural gas company’s stock worth $9,155,000 after acquiring an additional 176 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in shares of Diamondback Energy by 11.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,027 shares of the oil and natural gas company’s stock valued at $349,000 after acquiring an additional 205 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Down 1.0 %

NASDAQ FANG traded down $1.76 on Monday, reaching $175.83. The company had a trading volume of 1,719,168 shares, compared to its average volume of 1,759,684. The company’s fifty day moving average is $181.95 and its 200 day moving average is $189.82. The stock has a market capitalization of $51.34 billion, a P/E ratio of 10.06, a P/E/G ratio of 1.31 and a beta of 1.89. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy has a 52-week low of $145.70 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.49 EPS. Sell-side analysts anticipate that Diamondback Energy will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.05%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FANG shares. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price target for the company from $205.00 to $215.00 in a research report on Friday, October 4th. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research report on Monday. They set a “buy” rating and a $227.00 target price for the company. Raymond James boosted their price target on shares of Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 19th. Jefferies Financial Group started coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 price objective on the stock. Finally, UBS Group decreased their price target on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $212.65.

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.