Diamondback Energy, Inc. $FANG Stake Lifted by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 189.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,425 shares of the oil and natural gas company’s stock after acquiring an additional 3,553 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Diamondback Energy were worth $1,073,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in Diamondback Energy in the fourth quarter worth about $25,000. Richardson Financial Services Inc. boosted its position in shares of Diamondback Energy by 245.1% during the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 125 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the 4th quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter worth approximately $26,000. Finally, Wellington Shields & Co. LLC raised its holdings in shares of Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after purchasing an additional 135 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FANG shares. Truist Financial set a $242.00 price objective on Diamondback Energy in a research note on Wednesday, May 6th. Barclays lifted their price target on Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a report on Wednesday, May 27th. Mizuho upped their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, Citigroup lifted their target price on shares of Diamondback Energy from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Buy” and a consensus price target of $221.37.

Insider Buying and Selling at Diamondback Energy

In related news, EVP Matt Zmigrosky sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the transaction, the executive vice president directly owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. This trade represents a 9.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $15,593,458.08. Following the sale, the director directly owned 851,530 shares of the company’s stock, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 121,548 shares of company stock valued at $23,146,460. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Down 1.4%

FANG stock opened at $179.91 on Friday. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-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 $50.61 billion, a price-to-earnings ratio of 209.20 and a beta of 0.42. The company has a 50 day moving average of $194.75 and a two-hundred day moving average of $177.59.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly 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. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $4.54 EPS. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 19.92 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors 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. This represents a $4.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s dividend payout ratio is currently 511.63%.

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.