Adams Natural Resources Fund Inc. Has $14.68 Million Stock Position in Diamondback Energy, Inc. $FANG

Adams Natural Resources Fund Inc. cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,200 shares of the oil and natural gas company’s stock after selling 5,300 shares during the period. Diamondback Energy accounts for 1.7% of Adams Natural Resources Fund Inc.’s investment portfolio, making the stock its 13th largest holding. Adams Natural Resources Fund Inc.’s holdings in Diamondback Energy were worth $14,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FANG. Cresset Asset Management LLC lifted its holdings in Diamondback Energy by 37.5% in 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 buying an additional 1,288 shares during the period. Jump Financial LLC acquired a new stake in Diamondback Energy during the 2nd quarter worth about $2,301,000. Cerity Partners LLC raised its position in shares of Diamondback Energy by 13.5% in the 2nd quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock worth $7,022,000 after acquiring an additional 6,069 shares in the last quarter. AXA S.A. raised its position in shares of Diamondback Energy by 8.5% in the 2nd quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock worth $7,194,000 after acquiring an additional 4,103 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Diamondback Energy by 37.1% in the 2nd quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock worth $21,239,000 after acquiring an additional 41,866 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the sale, the director owned 13,437 shares in the company, valued at $2,640,370.50. This represents a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the transaction, the chief accounting officer directly owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 121,548 shares of company stock valued at $23,146,460. Insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $179.91 on Friday. The company has a market cap of $50.61 billion, a P/E ratio of 209.20 and a beta of 0.42. The company has a fifty day simple moving average of $194.75 and a 200 day simple moving average of $177.59. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $214.51.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share 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 the consensus estimate of $3.83 billion. During the same quarter in the prior year, the company posted $4.54 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Diamondback Energy, Inc. will post 19.92 earnings per share 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 given a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, May 14th. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a dividend yield of 2.4%. Diamondback Energy’s payout ratio is presently 511.63%.

Wall Street Analyst Weigh In

FANG has been the topic of several research analyst reports. Wells Fargo & Company set a $212.00 target price on Diamondback Energy in a research report on Monday, June 22nd. Barclays lifted their target price on Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Scotiabank boosted their price target on Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Sanford C. Bernstein increased their price target on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, Citigroup raised their price objective 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 issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Buy” and a consensus target price of $221.37.

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.