Yahoo Finance Insider Sell: Exec. VP & COO Daniel Wesson Sells 4,000 Shares of Diamondback Energy Inc (FANG)
On June 10, 2024, Daniel Wesson, Executive Vice President & Chief Operating Officer of Diamondback Energy Inc (NASDAQ:FANG), sold 4,000 shares of the company. The transaction was executed at a price of $194.69 per share, as detailed in the SEC Filing. Following this transaction, the insider now owns 65,677 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 20,000 shares of Diamondback Energy Inc and has not made any purchases of the stock. This recent transaction continues a trend of insider sales at the company, with a total of 24 insider sells and no insider buys over the past year.
The shares of Diamondback Energy Inc were trading at $194.69 on the day of the transaction, giving the company a market cap of approximately $34.54 billion. The price-earnings ratio of the stock stands at 10.92, which is below the industry median of 11.34 and also lower than the companys historical median.
According to the GF Value, the intrinsic value of Diamondback Energy Inc is estimated at $163.93 per share, making the stock modestly overvalued with a price-to-GF-Value ratio of 1.19.
The GF Value is calculated based on historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sell event and the valuation metrics provide investors with updated data points to consider in their analysis of Diamondback Energy Inc's stock performance and insider activities.
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.
This article first appeared on GuruFocus.
