Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 305,960 shares of the oil and natural gas company’s stock, valued at approximately $53,782,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of Diamondback Energy as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of FANG. Deseret Mutual Benefit Administrators grew its holdings in shares of Diamondback Energy by 31.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock worth $41,000 after purchasing an additional 66 shares during the last quarter. Scotia Capital Inc. raised its holdings in shares of Diamondback Energy by 0.3% in the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock valued at $2,822,000 after buying an additional 68 shares during the last quarter. Capital Financial Group Inc. Co. ADV raised its holdings in shares of Diamondback Energy by 2.1% in the first quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock valued at $709,000 after buying an additional 75 shares during the last quarter. Physician Wealth Advisors Inc. raised its holdings in shares of Diamondback Energy by 40.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 301 shares of the oil and natural gas company’s stock valued at $45,000 after buying an additional 86 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in Diamondback Energy by 0.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,564 shares of the oil and natural gas company’s stock worth $2,513,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.
Insider Buying and Selling
In other news, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the transaction, the executive vice president directly owned 46,392 shares in the company, valued at approximately $9,303,451.68. The trade was a 9.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 129,167 shares of company stock valued at $24,714,309 in the last three months. 0.64% of the stock is currently owned by company insiders.
Diamondback Energy Trading Down 2.4%
Diamondback Energy (NASDAQ:FANG – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the firm earned $2.38 earnings per share. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.
Diamondback Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, August 13th. Diamondback Energy’s dividend payout ratio (DPR) is currently 85.77%.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. Roth Capital set a $212.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Monday, June 22nd. Zacks Research cut shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Wells Fargo & Company raised their price target on shares of Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Jefferies Financial Group restated a “hold” rating and issued a $205.00 price objective on shares of Diamondback Energy in a research report on Sunday, August 9th. Finally, Weiss Ratings raised Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $222.21.
View Our Latest Report on FANG
Diamondback Energy Company Profile
Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.
Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.
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