On May 28, 2024, Daniel Wesson, Executive Vice President & Chief Operating Officer of Diamondback Energy Inc (FANG, Financial), sold 6,000 shares of the company. The transaction was executed at a price of $197.14 per share, as detailed in the SEC Filing. Following this transaction, the insider now owns 69,677 shares of Diamondback Energy Inc.
Diamondback Energy Inc is an independent oil and natural gas company headquartered in Midland, Texas. The company focuses on the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.
Over the past year, Daniel Wesson has sold a total of 19,000 shares and has not made any purchases of the company's stock. This recent sale is part of a broader trend observed within the company, where there have been 23 insider sells and no insider buys over the last year.
As of the date of the sale, Diamondback Energy Inc had a market cap of approximately $34.78 billion. The stock's price-earnings ratio stood at 10.99, which is lower than the industry median of 11.575 and also below the company's historical median.
The GF Value of Diamondback Energy Inc is estimated at $163.41, suggesting that the stock is Modestly Overvalued with a price-to-GF-Value ratio of 1.21. The GF Value is calculated considering historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates.
This valuation insight, combined with the insider selling trend, provides investors with critical data points for assessing the stock's current standing and future movements.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
