Varma Mutual Pension Insurance Co acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 104,599 shares of the oil and natural gas company’s stock, valued at approximately $18,386,000.
A number of other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Diamondback Energy in the second quarter valued at approximately $3,303,362,000. Boston Partners grew its holdings in shares of Diamondback Energy by 2.9% in the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock valued at $821,649,000 after buying an additional 163,548 shares during the period. Geode Capital Management LLC grew its holdings in shares of Diamondback Energy by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock valued at $844,073,000 after buying an additional 14,625 shares during the period. Bank of New York Mellon Corp increased its position in shares of Diamondback Energy by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after buying an additional 532,756 shares in the last quarter. Finally, Capital Research Global Investors increased its position in shares of Diamondback Energy by 14.1% in the 4th quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after buying an additional 534,073 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.
Insider Transactions at Diamondback Energy
In other Diamondback Energy news, Director Charles Alvin Meloy sold 83,334 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the transaction, the director owned 851,530 shares of the company’s stock, valued at $159,338,293.60. This represents a 8.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the transaction, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 129,167 shares of company stock valued at $24,714,309 in the last ninety days. Corporate insiders own 0.64% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Stock Report on Diamondback Energy
Diamondback Energy Trading Down 0.1%
FANG opened at $210.72 on Friday. The stock has a market capitalization of $59.01 billion, a P/E ratio of 41.08 and a beta of 0.43. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $216.90. The firm’s fifty day simple moving average is $191.79 and its 200 day simple moving average is $189.22. 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 (NASDAQ:FANG – Get Free Report) last released its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the company earned $2.38 EPS. The company’s revenue was up 51.2% on a year-over-year basis. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 20.13 EPS for the current fiscal year.
Diamondback Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a dividend of $1.10 per share. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. Diamondback Energy’s dividend payout ratio (DPR) is presently 85.77%.
About Diamondback Energy
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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