Thrivent Financial for Lutherans Grows Stock Position in Diamondback Energy, Inc. $FANG

Thrivent Financial for Lutherans increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 38.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,426 shares of the oil and natural gas company’s stock after buying an additional 9,908 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Diamondback Energy were worth $4,873,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FANG. Uhlmann Price Securities LLC boosted its stake in shares of Diamondback Energy by 1.3% during the 2nd quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock worth $699,000 after acquiring an additional 67 shares during the last quarter. Biondo Investment Advisors LLC raised its holdings in Diamondback Energy by 0.3% in the 1st quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company’s stock worth $4,614,000 after purchasing an additional 80 shares during the period. Viawealth LLC lifted its position in Diamondback Energy by 5.0% during the second quarter. Viawealth LLC now owns 1,753 shares of the oil and natural gas company’s stock valued at $241,000 after purchasing an additional 83 shares in the last quarter. STF Management LP grew its holdings in Diamondback Energy by 1.9% during the second quarter. STF Management LP now owns 4,490 shares of the oil and natural gas company’s stock valued at $617,000 after purchasing an additional 84 shares during the period. Finally, Fullcircle Wealth LLC grew its holdings in Diamondback Energy by 3.7% during the second quarter. Fullcircle Wealth LLC now owns 2,385 shares of the oil and natural gas company’s stock valued at $352,000 after purchasing an additional 85 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

FANG stock opened at $148.13 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The company’s fifty day moving average price is $147.71 and its 200-day moving average price is $144.69. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $180.91. The company has a market capitalization of $42.42 billion, a PE ratio of 10.29 and a beta of 0.63.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. Diamondback Energy’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 EPS. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, November 13th. Diamondback Energy’s payout ratio is currently 27.80%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FANG shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $173.00 price objective on shares of Diamondback Energy in a research note on Friday, October 10th. Mizuho set a $194.00 price target on shares of Diamondback Energy in a report on Friday, December 12th. William Blair initiated coverage on shares of Diamondback Energy in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. Finally, KeyCorp lowered their target price on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Buy” and an average price target of $188.76.

Insider Buying and Selling

In related news, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the transaction, the director directly owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company’s stock.

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.