Capital Research Global Investors Boosts Stock Holdings in Diamondback Energy, Inc. $FANG

Capital Research Global Investors boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 14.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,332,885 shares of the oil and natural gas company’s stock after acquiring an additional 534,073 shares during the period. Capital Research Global Investors owned 1.51% of Diamondback Energy worth $651,363,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FANG. Cresset Asset Management LLC grew its stake in Diamondback Energy by 37.5% during the second quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock valued at $649,000 after acquiring an additional 1,288 shares in the last quarter. Jump Financial LLC purchased a new position in Diamondback Energy during the second quarter valued at $2,301,000. Cerity Partners LLC grew its stake in Diamondback Energy by 13.5% during the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock valued at $7,022,000 after acquiring an additional 6,069 shares in the last quarter. AXA S.A. grew its stake in Diamondback Energy by 8.5% during the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock valued at $7,194,000 after acquiring an additional 4,103 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Diamondback Energy by 37.1% during the second quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock valued at $21,239,000 after acquiring an additional 41,866 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In other news, Director Charles Alvin Meloy sold 7,857 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $189.20, for a total value of $1,486,544.40. Following the sale, the director directly owned 942,721 shares in the company, valued at $178,362,813.20. The trade was a 0.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven E. West sold 6,000 shares of the business’s stock in a transaction dated 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 approximately $844,561.40. This trade represents a 57.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 78,464 shares of company stock worth $14,946,406. 0.64% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $192.62 on Monday. The company’s 50-day moving average price is $196.07 and its 200-day moving average price is $173.91. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. The company has a market cap of $54.19 billion, a PE ratio of 223.98 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping 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 firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the firm posted $4.54 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 19.65 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a $1.10 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. Diamondback Energy’s payout ratio is presently 511.63%.

Key Stories Impacting 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.
• 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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FANG. Benchmark cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Roth Mkm reaffirmed a “neutral” rating and set a $205.00 target price on shares of Diamondback Energy in a research note on Tuesday, May 5th. Sanford C. Bernstein raised their target price on shares of Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Susquehanna raised their target price on shares of Diamondback Energy from $231.00 to $245.00 and gave the company a “positive” rating in a research note on Wednesday, May 6th. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $223.26.

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.