Rep. Greg Landsman Sells Off Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

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 FANG stock opened at $176.60 on Friday. The firm has a market capitalization of $51.57 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.30 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, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The firm has a fifty day moving average of $181.23 and a 200-day moving average of $191.63.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly 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). The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned $5.49 earnings per share. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 16.78 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company 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 $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated 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 directly owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents 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.

Analyst Ratings Changes

A number of research analysts have issued reports on FANG shares. Jefferies Financial Group began 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. KeyCorp dropped their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Bank of America raised their price target on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Wednesday, November 6th. Finally, Piper Sandler lifted their target price on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. One 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $209.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 2,381,488 shares in the last quarter. Boston Partners raised its position in shares of Diamondback Energy by 235.6% during 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 buying an additional 1,916,900 shares in the last quarter. Zimmer Partners LP purchased a new stake in shares of Diamondback Energy during the 3rd quarter valued at $87,924,000. Holocene Advisors LP raised its position in shares of Diamondback Energy by 95.3% during the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after buying an additional 457,896 shares in the last quarter. Finally, Homestead Advisers Corp purchased a new stake in shares of Diamondback Energy during the 1st quarter valued at $87,940,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.