Diamondback Energy (NASDAQ:FANG) Stock Unloaded Rep. Greg Landsman

Representative Greg Landsman (D-Ohio) recently sold shares of Diamondback Energy, Inc. NASDAQ: FANG. In a filing disclosed on November 14th, the Representative disclosed that they had sold between $15,001 and $50,000 in Diamondback Energy stock on October 15th. The trade occurred in the Representative's "SARAH LANDSMAN TRADITIONAL IRA" account.

Representative Greg Landsman also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Pfizer NYSE: PFE on 10/15/2024.
• Sold $1,001 - $15,000 in shares of Cheniere Energy NYSE: LNG on 10/15/2024.
• Sold $15,001 - $50,000 in shares of Phillips 66 NYSE: PSX on 10/15/2024.
• Sold $1,001 - $15,000 in shares of NextEra Energy NYSE: NEE on 10/15/2024.
• Sold $1,001 - $15,000 in shares of Linde NASDAQ: LIN on 10/15/2024.
• Sold $1,001 - $15,000 in shares of Regeneron Pharmaceuticals NASDAQ: REGN on 10/15/2024.
• Sold $1,001 - $15,000 in shares of CrowdStrike NASDAQ: CRWD on 10/15/2024.
• Sold $15,001 - $50,000 in shares of Exxon Mobil NYSE: XOM on 10/15/2024.
• Sold $15,001 - $50,000 in shares of Amazon.com NASDAQ: AMZN on 10/15/2024.
• Purchased $1,001 - $15,000 in shares of NextEra Energy NYSE: NEE on 9/10/2024.

Diamondback Energy Price Performance

Shares of NASDAQ FANG traded down $5.82 during mid-day trading on Friday, hitting $176.60. 2,123,445 shares of the stock traded hands, compared to its average volume of 1,753,036. The company has a market cap of $51.57 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.30 and a beta of 1.89. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a 50 day simple moving average of $181.16 and a two-hundred day simple moving average of $191.43.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business posted $5.49 earnings per share. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 16.78 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. Diamondback Energy's dividend payout ratio (DPR) is presently 20.61%.

Hedge Funds Weigh In On Diamondback Energy

A number of hedge funds have recently bought and sold shares of the company. State Street Corp boosted its position in Diamondback Energy by 1.3% in the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company's stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Diamondback Energy by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company's stock worth $1,706,076,000 after acquiring an additional 2,381,488 shares during the period. Geode Capital Management LLC grew its position in shares of Diamondback Energy by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company's stock valued at $793,611,000 after acquiring an additional 266,299 shares during the period. Bank of New York Mellon Corp grew its holdings in Diamondback Energy by 16.0% during the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company's stock valued at $603,038,000 after purchasing an additional 415,902 shares during the period. Finally, Boston Partners raised its stake in shares of Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company's stock valued at $541,844,000 after buying an additional 1,916,900 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. The trade was 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 currently owned by insiders.

Analysts Set New Price Targets

FANG has been the subject of several recent research reports. UBS Group decreased their price target on shares of Diamondback Energy from $247.00 to $223.00 and set a "buy" rating for the company in a research report on Wednesday, September 18th. Scotiabank lowered their target price on Diamondback Energy from $245.00 to $225.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Evercore ISI cut their target price on Diamondback Energy from $235.00 to $209.00 and set an "outperform" rating on the stock in a report on Monday, September 30th. Royal Bank of Canada reissued an "outperform" rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Wednesday, November 6th. Finally, StockNews.com raised Diamondback Energy from a "sell" rating to a "hold" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $209.64.

About Representative Landsman

Greg Landsman (Democratic Party) is a member of the U.S. House, representing Ohio's 1st Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Landsman is also a member of the Cincinnati City Council in Ohio. He assumed office on January 2, 2018. His current term ends on January 1, 2024. Landsman (Democratic Party) is running for re-election to the U.S. House to represent Ohio's 1st Congressional District. He declared candidacy for the 2024 election. Greg Landsman was born in Cincinnati, Ohio, and lives in Mt. Washington, Ohio. Landsman earned a B.A. in economics and political science from Ohio University and an M.A. in theological studies, religion, and public policy from Harvard University in 2004. His career experience includes working as the executive director of The Strive Partnership with the KnowledgeWorks Foundation and the director of the Ohio Governor's Office of Faith-Based and Community Initiatives.

Diamondback Energy Company Profile

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.