Capital Research Global Investors increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 14.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,332,885 shares of the oil and natural gas company’s stock after purchasing an additional 534,073 shares during the quarter. Capital Research Global Investors’ holdings in Diamondback Energy were worth $651,363,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in FANG. Smead Capital Management Inc. purchased a new position in shares of Diamondback Energy during the 2nd quarter worth about $144,775,000. Bank of New York Mellon Corp boosted its stake in shares of Diamondback Energy by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock worth $775,607,000 after purchasing an additional 532,756 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of Diamondback Energy by 2,637.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 456,686 shares of the oil and natural gas company’s stock worth $65,352,000 after purchasing an additional 440,005 shares during the period. Two Sigma Investments LP boosted its stake in shares of Diamondback Energy by 1,127.8% during the 3rd quarter. Two Sigma Investments LP now owns 369,568 shares of the oil and natural gas company’s stock worth $52,885,000 after purchasing an additional 339,468 shares during the period. Finally, Ninepoint Partners LP purchased a new position in shares of Diamondback Energy during the 3rd quarter worth about $45,076,000. 90.01% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven E. West sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $188.35, for a total transaction of $1,130,100.00. Following the completion of the sale, the director owned 4,484 shares of the company’s stock, valued at approximately $844,561.40. This represents a 57.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 78,464 shares of company stock worth $14,946,406. 0.64% of the stock is owned by corporate insiders.
Diamondback Energy Stock Performance
Diamondback Energy (NASDAQ:FANG – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the business posted $4.54 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts expect that Diamondback Energy, Inc. will post 19.65 EPS for the current year.
Diamondback Energy Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a $1.10 dividend. The ex-dividend date was Thursday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s dividend payout ratio (DPR) is presently 511.63%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on FANG shares. Wall Street Zen raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Scotiabank lifted their price objective on shares of Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Barclays lifted their price objective on shares of Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a report on Wednesday, May 27th. Finally, Susquehanna lifted their price objective on shares of Diamondback Energy from $231.00 to $245.00 and gave the company a “positive” rating in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $223.26.
View Our Latest Report on Diamondback Energy
Trending Headlines about Diamondback Energy
Here are the key news stories impacting Diamondback Energy this week:
- Positive Sentiment: Zacks Research and KeyCorp both lifted several near- and longer-term earnings estimates for Diamondback Energy, suggesting analysts still see solid profit potential ahead. Zacks also reiterated a Hold rating, while KeyCorp kept an Overweight rating and a $225 price target. Analyst estimate updates for Diamondback Energy
- Positive Sentiment: Zacks described Diamondback Energy as a strong momentum stock, which may reinforce bullish sentiment around the name. Zacks momentum stock article
- Neutral Sentiment: One article noted that Diamondback Energy has been trading near highs, but the focus was on market activity rather than a direct company-specific catalyst.
- Negative Sentiment: Financial Post reported that the daughter of late wildcatter Autry Stephens is offloading a $2 billion energy stake, including a Diamondback Energy position. Large insider- or major-holder selling can weigh on sentiment because investors may view it as profit-taking after a strong run. Stephens family stake sale in Diamondback Energy
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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