Diamondback Energy, Inc. $FANG Shares Purchased by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 123.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,500 shares of the oil and natural gas company’s stock after acquiring an additional 44,000 shares during the quarter. Diamondback Energy accounts for 1.8% of Adams Natural Resources Fund Inc.’s holdings, making the stock its 17th biggest position. Adams Natural Resources Fund Inc.’s holdings in Diamondback Energy were worth $11,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FANG. Smead Capital Management Inc. acquired a new stake in shares of Diamondback Energy in the second quarter worth $144,775,000. Capital Research Global Investors increased its stake in shares of Diamondback Energy by 38.0% in the third quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company’s stock worth $543,610,000 after acquiring an additional 1,046,398 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Diamondback Energy by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock worth $775,607,000 after acquiring an additional 532,756 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of Diamondback Energy by 2,637.8% in the third quarter. Balyasny Asset Management L.P. now owns 456,686 shares of the oil and natural gas company’s stock worth $65,352,000 after acquiring an additional 440,005 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of Diamondback Energy by 1,127.8% in the third quarter. Two Sigma Investments LP now owns 369,568 shares of the oil and natural gas company’s stock worth $52,885,000 after acquiring an additional 339,468 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Charles Alvin Meloy sold 7,857 shares of Diamondback Energy 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 owned 942,721 shares in the company, valued at $178,362,813.20. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the sale, the executive vice president owned 46,392 shares in the company, valued at approximately $9,303,451.68. This trade represents a 9.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 54,065 shares of company stock valued at $10,551,236. 0.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FANG has been the topic of a number of research reports. Freedom Capital upgraded shares of Diamondback Energy to a “strong-buy” rating in a research note on Tuesday, March 10th. Wells Fargo & Company raised their price target on shares of Diamondback Energy from $202.00 to $262.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Sanford C. Bernstein raised their price target on shares of Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Finally, Truist Financial set a $242.00 price target on shares of Diamondback Energy in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.63.

Diamondback Energy Stock Up 0.3%

FANG stock opened at $192.13 on Friday. The firm has a market cap of $54.05 billion, a PE ratio of 223.41 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The firm’s fifty day moving average is $195.70 and its 200 day moving average is $175.36. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the business earned $4.54 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts forecast that Diamondback Energy, Inc. will post 19.92 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is 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.