MIDLAND, Texas—Matthew Kaes Van't Hof, President and Chief Financial Officer of Diamondback (NASDAQ:FANG) Energy, Inc. (NASDAQ:FANG), recently sold 4,000 shares of the company's common stock. The transaction, completed on December 13, 2024, was executed at a weighted average price of approximately $163.48 per share, resulting in a total sale value of $653,928. The sale occurred as the $46.75 billion market cap company trades at a P/E ratio of 9.21, with InvestingPro analysis suggesting the stock is slightly undervalued at current levels.
Following this sale, Van't Hof holds 96,718 shares of Diamondback Energy directly. The sale was conducted over multiple transactions with prices ranging from $163.41 to $163.555 per share. The company maintains a notable 5.22% dividend yield and has consistently paid dividends for seven consecutive years. InvestingPro subscribers can access additional insights, including 7 more ProTips and a comprehensive analysis of Diamondback Energy's financial health.
In other recent news, Diamondback Energy has seen a flurry of analyst attention and strategic developments. Roth/MKM reiterated its Buy rating on the energy company, emphasizing its low-cost advantage in the Permian Basin. Goldman Sachs also resumed coverage with a Buy rating, highlighting Diamondback's strategic capital allocation and the merger with Endeavor Energy. TD Cowen maintained its Buy rating with a price target of $255, citing ongoing efficiency gains and a plan for reducing medium-term debt.
These developments coincide with Diamondback Energy's internal strategies to enhance cost efficiency and shareholder value. The company plans to lower its corporate breakeven price to $37 per barrel and reduce its drilling program to 18 rigs by 2025. Furthermore, Diamondback anticipates a capital expenditure of $4.1 to $4.4 billion for 2025. The company is also exploring additional revenue through natural gas and surface acreage.
Despite the CEO's recent sale of 3,000 shares, analysts from Piper Sandler and Goldman Sachs maintain a positive outlook on Diamondback Energy's future, citing operational efficiency, financial strategy, and strategic capital allocation as key factors. The company's focus on maintaining flexibility and maximizing free cash flow, along with its robust profitability metrics, suggest a promising future for Diamondback Energy.
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