Diamondback Energy Sees Unusually High Options Volume (NASDAQ:FANG)

Diamondback Energy Inc (NASDAQ:FANG) saw some unusual options trading activity on Thursday. Stock traders purchased 19,248 call options on the company. This represents an increase of 1,709% compared to the typical daily volume of 1,064 call options.

NASDAQ:FANG opened at $95.81 on Friday. The company has a market cap of $16.29 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 0.66 and a beta of 0.82. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.29. Diamondback Energy has a twelve month low of $85.19 and a twelve month high of $140.78. The business has a 50 day moving average price of $102.78 and a two-hundred day moving average price of $103.27.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.04). Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $1.59 EPS. The company’s quarterly revenue was up 93.7% compared to the same quarter last year. As a group, analysts anticipate that Diamondback Energy will post 7.28 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.188 per share. This represents a $0.75 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, August 15th. Diamondback Energy’s dividend payout ratio is 12.78%.

A number of analysts have recently commented on FANG shares. Northland Securities reaffirmed a “buy” rating and issued a $150.00 price target on shares of Diamondback Energy in a research note on Wednesday, August 7th. Morgan Stanley lowered their price target on Diamondback Energy from $143.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday. Raymond James raised Diamondback Energy from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, May 9th. BidaskClub raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Credit Suisse Group assumed coverage on Diamondback Energy in a research note on Monday, June 17th. They set an “outperform” rating and a $135.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have assigned a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $156.45.

In other news, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $112.18, for a total value of $560,900.00. Following the completion of the sale, the vice president now directly owns 117,107 shares of the company’s stock, valued at approximately $13,137,063.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Travis D. Stice purchased 4,186 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $95.55 per share, with a total value of $399,972.30. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 11,500 shares of company stock worth $1,258,505. Corporate insiders own 0.47% of the company’s stock.

A number of hedge funds have recently bought and sold shares of FANG. Dimensional Fund Advisors LP increased its position in Diamondback Energy by 60.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,374,465 shares of the oil and natural gas company’s stock worth $127,413,000 after buying an additional 517,292 shares during the period. Geode Capital Management LLC increased its position in shares of Diamondback Energy by 128.1% in the fourth quarter. Geode Capital Management LLC now owns 2,040,175 shares of the oil and natural gas company’s stock worth $188,797,000 after purchasing an additional 1,145,573 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in shares of Diamondback Energy in the fourth quarter worth $378,000. Nordea Investment Management AB increased its position in shares of Diamondback Energy by 54.0% in the fourth quarter. Nordea Investment Management AB now owns 5,876 shares of the oil and natural gas company’s stock worth $545,000 after purchasing an additional 2,061 shares during the period. Finally, Huntington National Bank increased its position in shares of Diamondback Energy by 1,544.2% in the first quarter. Huntington National Bank now owns 1,562 shares of the oil and natural gas company’s stock worth $159,000 after purchasing an additional 1,467 shares during the period. Hedge funds and other institutional investors own 99.48% of the company’s stock.

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.

Featured Article: Equity Income

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.