Diamondback Energy, Inc. $FANG Stock Position Trimmed by Clearbridge Investments LLC

Clearbridge Investments LLC cut its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 320,957 shares of the oil and natural gas company’s stock after selling 2,621 shares during the quarter. Clearbridge Investments LLC owned about 0.11% of Diamondback Energy worth $48,250,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Syon Capital LLC lifted its position in Diamondback Energy by 8.3% in the 4th quarter. Syon Capital LLC now owns 2,290 shares of the oil and natural gas company’s stock valued at $344,000 after purchasing an additional 175 shares during the last quarter. ING Groep NV lifted its position in Diamondback Energy by 1,980.6% in the 4th quarter. ING Groep NV now owns 39,614 shares of the oil and natural gas company’s stock valued at $5,955,000 after purchasing an additional 37,710 shares during the last quarter. Capital World Investors lifted its position in Diamondback Energy by 2.0% in the 4th quarter. Capital World Investors now owns 1,666,586 shares of the oil and natural gas company’s stock valued at $250,538,000 after purchasing an additional 32,527 shares during the last quarter. Capital Research Global Investors lifted its position in 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 purchasing an additional 534,073 shares during the last quarter. Finally, Capital International Sarl bought a new stake in Diamondback Energy in the 4th quarter valued at about $852,000. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $198.20 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $195.99 and its two-hundred day moving average price is $174.25. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $214.51. The stock has a market cap of $55.76 billion, a PE ratio of 230.47 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.83 billion. During the same period in the previous year, the business earned $4.54 earnings per share. Diamondback Energy’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 19.65 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a $1.10 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s dividend payout ratio (DPR) is 511.63%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FANG shares. Morgan Stanley lifted their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. 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 research report on Wednesday, May 6th. UBS Group lifted their price objective on shares of Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Wells Fargo & Company lifted their price objective on shares of Diamondback Energy from $202.00 to $262.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Finally, Piper Sandler lifted their price objective on shares of Diamondback Energy from $215.00 to $248.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $223.26.

Insider Activity

In other Diamondback Energy news, 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 sale, the director owned 4,484 shares in the company, valued at approximately $844,561.40. The trade was a 57.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jere W. Thompson III sold 750 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $182.47, for a total value of $136,852.50. Following the sale, the chief financial officer owned 19,975 shares in the company, valued at approximately $3,644,838.25. The trade was a 3.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 78,464 shares of company stock worth $14,946,406. 0.64% of the stock is owned by company insiders.

Diamondback Energy 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.