Rep. Greg Landsman Sells Diamondback Energy, Inc. (NASDAQ:FANG) Stock

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 opened at $176.60 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $181.23 and its 200-day moving average price is $191.63. The firm has a market capitalization of $51.57 billion, a P/E ratio of 10.49, a P/E/G ratio of 1.30 and a beta of 1.89. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business earned $5.49 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts anticipate that Diamondback Energy, Inc. will post 16.78 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.04%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 1,037,819 shares of the company’s stock, 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 this link. 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 transaction of $208,150.00. Following the sale, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This 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 insiders.

Analyst Upgrades and Downgrades

FANG has been the topic of several recent analyst reports. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Truist Financial lifted their target price on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 target price on the stock. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Finally, Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $209.64.

Institutional Investors Weigh In On Diamondback Energy

Large investors have recently bought and sold shares of the business. State Street Corp boosted its stake in Diamondback Energy by 1.3% during 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 buying an additional 149,871 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Diamondback Energy by 38.2% during 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 buying an additional 2,381,488 shares during the period. Bank of New York Mellon Corp boosted its stake 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 worth $603,038,000 after buying an additional 415,902 shares during the period. Boston Partners boosted its stake in Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after buying an additional 1,916,900 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Diamondback Energy by 9.3% during the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after buying an additional 230,689 shares during the period. Institutional investors own 90.01% of the company’s stock.

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.

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.