Diamondback Energy, Inc. $FANG Shares Sold by Coyle Financial Counsel LLC

Coyle Financial Counsel LLC lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 54.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,954 shares of the oil and natural gas company’s stock after selling 3,500 shares during the quarter. Coyle Financial Counsel LLC’s holdings in Diamondback Energy were worth $444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners raised its stake in Diamondback Energy by 2.9% during the third quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock valued at $821,649,000 after buying an additional 163,548 shares in the last quarter. Geode Capital Management LLC raised its stake in Diamondback Energy by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock valued at $844,073,000 after buying an additional 14,625 shares in the last quarter. Capital Research Global Investors raised its stake in Diamondback Energy by 38.0% during the third quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company’s stock valued at $543,610,000 after buying an additional 1,046,398 shares in the last quarter. Invesco Ltd. raised its stake in Diamondback Energy by 9.6% during the third quarter. Invesco Ltd. now owns 3,120,359 shares of the oil and natural gas company’s stock valued at $446,523,000 after buying an additional 274,331 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Diamondback Energy by 9.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,355,480 shares of the oil and natural gas company’s stock valued at $337,078,000 after buying an additional 198,919 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $191.48 on Friday. Diamondback Energy, Inc. has a 12-month low of $133.75 and a 12-month high of $214.51. The firm has a market capitalization of $53.87 billion, a price-to-earnings ratio of 222.65 and a beta of 0.46. The business has a 50 day simple moving average of $195.28 and a 200 day simple moving average of $171.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the company posted $4.54 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 19.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s dividend payout ratio is 511.63%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FANG. Sanford C. Bernstein upped their price objective on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. The Goldman Sachs Group upped their price objective on Diamondback Energy from $187.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Piper Sandler upped their price objective on Diamondback Energy from $215.00 to $248.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, Susquehanna upped their target price on Diamondback Energy from $231.00 to $245.00 and gave the company a “positive” rating in a report on Wednesday, May 6th. Five research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $223.26.

Insider Activity

In other Diamondback Energy news, EVP Matt Zmigrosky sold 20,899 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $180.00, for a total transaction of $3,761,820.00. Following the completion of the transaction, the executive vice president directly owned 60,493 shares of the company’s stock, valued at approximately $10,888,740. This trade represents a 25.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles Alvin Meloy sold 7,857 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $183.27, for a total value of $1,439,952.39. Following the transaction, the director directly owned 974,149 shares of the company’s stock, valued at approximately $178,532,287.23. The trade was a 0.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 174,321 shares of company stock worth $32,090,475 in the last quarter. 0.64% of the stock is currently owned by corporate insiders.

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.