Diamondback Energy, Inc. $FANG Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,090 shares of the oil and natural gas company’s stock after selling 5,280 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Diamondback Energy were worth $8,282,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in Diamondback Energy in the 2nd quarter worth about $360,000. J.W. Cole Advisors Inc. increased its stake in shares of Diamondback Energy by 403.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 10,438 shares of the oil and natural gas company’s stock valued at $1,434,000 after acquiring an additional 8,366 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Diamondback Energy by 5.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 244,839 shares of the oil and natural gas company’s stock valued at $33,641,000 after acquiring an additional 11,770 shares during the last quarter. Choreo LLC lifted its holdings in shares of Diamondback Energy by 1.3% during the 2nd quarter. Choreo LLC now owns 7,539 shares of the oil and natural gas company’s stock worth $1,036,000 after acquiring an additional 94 shares during the period. Finally, Elevation Point Wealth Partners LLC boosted its position in shares of Diamondback Energy by 8.1% in the second quarter. Elevation Point Wealth Partners LLC now owns 5,524 shares of the oil and natural gas company’s stock worth $759,000 after acquiring an additional 415 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Freedom Capital upgraded shares of Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. Susquehanna lifted their price target on shares of Diamondback Energy from $182.00 to $199.00 and gave the company a “positive” rating in a report on Wednesday, February 25th. Raymond James Financial boosted their price objective on shares of Diamondback Energy from $210.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Tuesday, March 17th. Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Finally, Sanford C. Bernstein cut their target price on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $196.81.

Diamondback Energy Price Performance

Shares of FANG stock opened at $201.84 on Friday. The firm has a fifty day simple moving average of $173.12 and a 200-day simple moving average of $155.90. The company has a market capitalization of $56.78 billion, a PE ratio of 35.98 and a beta of 0.59. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $204.91. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.26). The firm had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Diamondback Energy had a net margin of 11.07% and a return on equity of 8.08%. The business’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.67 earnings per share. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, March 5th were issued a $1.05 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, March 5th. Diamondback Energy’s dividend payout ratio (DPR) is currently 74.87%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Steven E. West sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was 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 in the company, valued at $844,561.40. This trade represents a 57.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matt Zmigrosky sold 20,899 shares of Diamondback Energy stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $180.00, for a total value of $3,761,820.00. Following the sale, the executive vice president owned 60,493 shares in the company, valued at $10,888,740. This represents a 25.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,209,212 shares of company stock valued at $199,689,401 in the last three months. 0.70% of the stock is currently owned by company insiders.

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.