Diamondback Energy, Inc. $FANG Shares Sold by ZEGA Investments LLC

ZEGA Investments LLC reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 55.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,112 shares of the oil and natural gas company’s stock after selling 5,158 shares during the quarter. ZEGA Investments LLC’s holdings in Diamondback Energy were worth $588,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Diamondback Energy by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock valued at $3,204,894,000 after acquiring an additional 388,512 shares during the last quarter. Boston Partners lifted its holdings in shares of Diamondback Energy by 2.8% during the second quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock valued at $766,914,000 after purchasing an additional 151,150 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Diamondback Energy by 2.7% during the second quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock valued at $746,526,000 after purchasing an additional 142,649 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Diamondback Energy by 9.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock valued at $637,841,000 after purchasing an additional 384,971 shares during the period. Finally, Raymond James Financial Inc. increased its stake in Diamondback Energy by 9.2% in the 2nd quarter. Raymond James Financial Inc. now owns 1,952,276 shares of the oil and natural gas company’s stock worth $268,243,000 after purchasing an additional 164,293 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Up 0.1%

Shares of NASDAQ:FANG opened at $147.56 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $42.26 billion, a PE ratio of 10.25 and a beta of 0.59. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $180.91. The firm has a fifty day moving average price of $149.45 and a 200 day moving average price of $145.01.

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

Diamondback Energy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on FANG shares. Wells Fargo & Company upped their price objective on shares of Diamondback Energy from $160.00 to $169.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. Piper Sandler decreased their target price on Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a report on Monday, December 29th. Finally, Roth Capital set a $162.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $188.67.

Insider Transactions at Diamondback Energy

In other news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $138.61, for a total value of $52,382,243.71. Following the sale, the director directly owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. This trade represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is owned by company 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.