Diamondback Energy Target of Unusually Large Options Trading (NASDAQ:FANG)

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Diamondback Energy Inc (NASDAQ:FANG) was the target of unusually large options trading on Wednesday. Stock investors purchased 31,520 put options on the stock. This is an increase of approximately 5,858% compared to the average daily volume of 529 put options.

A number of analysts have recently weighed in on FANG shares. Raymond James dropped their price objective on Diamondback Energy from $120.00 to $110.00 and set a “strong-buy” rating for the company in a research note on Thursday, November 7th. Piper Jaffray Companies set a $156.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Friday, August 16th. Imperial Capital decreased their price objective on Diamondback Energy from $100.00 to $88.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. ValuEngine upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on Diamondback Energy from $152.00 to $139.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $135.60.

In other Diamondback Energy news, COO Michael L. Hollis sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $102.25, for a total value of $204,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Randall J. Holder sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $103.21, for a total value of $309,630.00. Following the completion of the sale, the executive vice president now directly owns 8,448 shares of the company’s stock, valued at approximately $871,918.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,000 shares of company stock valued at $618,880. 0.47% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC purchased a new position in shares of Diamondback Energy in the 2nd quarter worth approximately $32,000. Commonwealth Bank of Australia raised its stake in shares of Diamondback Energy by 81.7% in the second quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 152 shares during the last quarter. FNY Investment Advisers LLC raised its stake in shares of Diamondback Energy by 4,118.2% in the third quarter. FNY Investment Advisers LLC now owns 464 shares of the oil and natural gas company’s stock worth $41,000 after acquiring an additional 453 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Diamondback Energy in the second quarter worth about $44,000. Finally, Coastal Investment Advisors Inc. raised its stake in shares of Diamondback Energy by 93.5% in the second quarter. Coastal Investment Advisors Inc. now owns 503 shares of the oil and natural gas company’s stock worth $54,000 after acquiring an additional 243 shares during the last quarter. 98.64% of the stock is currently owned by institutional investors.

Shares of NASDAQ:FANG traded up $2.52 on Thursday, hitting $86.35. 377,851 shares of the company traded hands, compared to its average volume of 1,938,362. Diamondback Energy has a 52 week low of $73.18 and a 52 week high of $114.14. The company has a quick ratio of 0.68, a current ratio of 0.72 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $80.74 and a 200-day simple moving average of $93.67. The company has a market cap of $13.75 billion, a PE ratio of 14.71, a PEG ratio of 1.05 and a beta of 0.79.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.24). Diamondback Energy had a net margin of 29.59% and a return on equity of 6.01%. The company had revenue of $975.00 million for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $1.67 earnings per share. Diamondback Energy’s revenue was up 81.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Diamondback Energy will post 6.39 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were given a dividend of $0.1875 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.75 annualized dividend and a dividend yield of 0.87%. Diamondback Energy’s dividend payout ratio (DPR) is presently 12.78%.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

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