Daniel Wesson, Executive Vice President and Chief Operating Officer, sells 6,000 shares of Diamondback Energy Inc (FANG)

On May 28, 2024, Daniel Wesson, the Executive Vice President & Chief Operating Officer of Diamondback Energy Inc (NASDAQ:FANG), made headlines as he sold 6,000 shares of the company at a price of $197.14 per share. This transaction, detailed in the SEC filing, reduced Wesson’s ownership to 69,677 shares of the independent oil and natural gas company based in Midland, Texas.

Diamondback Energy Inc 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, Wesson has sold a total of 19,000 shares without making any purchases of the company’s stock. This recent sale is part of a broader trend within the company, with 23 insider sells and no insider buys over the last year.

With a market cap of approximately $34.78 billion, Diamondback Energy Inc’s stock price-earnings ratio stands at 10.99, lower than the industry median of 11.575 and the company’s historical median. The GF Value of the company is estimated at $163.41, indicating that the stock is Modestly Overvalued with a price-to-GF-Value ratio of 1.21.

Investors are advised to consider these valuation insights and insider selling trends when assessing the stock’s current standing and future movements. This news, generated by GuruFocus, provides general insights based on historical data and analyst projections, serving as a fundamental data-driven analysis for investors.