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 50-day simple moving average of $181.16 and a 200-day simple moving average of $191.43. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market capitalization of $51.57 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.30 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its 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 business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the company posted $5.49 earnings per share. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 16.78 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.04%. Diamondback Energy’s payout ratio is 20.61%.

Analyst Ratings Changes

A number of brokerages have recently commented on FANG. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their target price for the company from $205.00 to $215.00 in a report on Friday, October 4th. Morgan Stanley increased their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 price target for the company. Truist Financial increased their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Citigroup initiated coverage on shares of Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $209.64.

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now 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 disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Institutional Trading of Diamondback Energy

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its stake in Diamondback Energy by 1.3% in the 3rd 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 last quarter. Price T Rowe Associates Inc. MD boosted its stake in Diamondback Energy by 38.2% in the 1st 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 last quarter. Geode Capital Management LLC boosted its stake in Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after buying an additional 266,299 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Diamondback Energy by 16.0% in the 2nd 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 in the last quarter. Finally, Boston Partners lifted its stake in shares of Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after purchasing an additional 1,916,900 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

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.