Western Wealth Management LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,922 shares of the oil and natural gas company’s stock, valued at approximately $689,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FANG. Hsbc Holdings PLC boosted its stake in Diamondback Energy by 16.3% in the fourth quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company’s stock valued at $50,890,000 after acquiring an additional 47,450 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Diamondback Energy by 1,127.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,907 shares of the oil and natural gas company’s stock valued at $4,045,000 after buying an additional 24,715 shares during the last quarter. Guinness Asset Management LTD grew its stake in shares of Diamondback Energy by 12.0% during the 4th quarter. Guinness Asset Management LTD now owns 54,132 shares of the oil and natural gas company’s stock worth $8,042,000 after acquiring an additional 5,816 shares during the period. Peterson Wealth Services increased its holdings in Diamondback Energy by 174.2% in the 4th quarter. Peterson Wealth Services now owns 23,973 shares of the oil and natural gas company’s stock worth $3,604,000 after acquiring an additional 15,229 shares during the last quarter. Finally, National Pension Service raised its stake in Diamondback Energy by 7.7% in the 4th quarter. National Pension Service now owns 381,710 shares of the oil and natural gas company’s stock valued at $57,382,000 after acquiring an additional 27,229 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research cut Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings upgraded Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Jefferies Financial Group reaffirmed a “hold” rating and set a $205.00 target price on shares of Diamondback Energy in a report on Sunday, August 9th. Finally, Sanford C. Bernstein upped their price target on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $222.21.
Insider Activity at Diamondback Energy
In related news, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction on 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. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Alvin Meloy sold 83,334 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total value of $15,593,458.08. Following the sale, the director owned 851,530 shares in the company, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 129,167 shares of company stock valued at $24,714,309 over the last ninety days. 0.64% of the stock is currently owned by insiders.
Diamondback Energy Stock Down 2.8%
FANG stock opened at $199.89 on Wednesday. The company’s 50 day moving average is $192.34 and its 200 day moving average is $189.96. The stock has a market cap of $55.97 billion, a price-to-earnings ratio of 38.96 and a beta of 0.43. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $216.90.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last announced its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. Diamondback Energy’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.38 earnings per share. Sell-side analysts predict that Diamondback Energy, Inc. will post 20.13 EPS for the current fiscal year.
Diamondback Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were given a $1.10 dividend. The ex-dividend date was Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.2%. Diamondback Energy’s payout ratio is 85.77%.
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.
Featured Articles
- Five stocks we like better than Diamondback Energy
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.
