Harvest Fund Management Co. Ltd Boosts Stake in Diamondback Energy, Inc. $FANG

Harvest Fund Management Co. Ltd increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 20.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,595 shares of the oil and natural gas company’s stock after acquiring an additional 3,626 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Diamondback Energy were worth $3,245,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators grew its holdings in shares of Diamondback Energy by 31.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock worth $41,000 after acquiring an additional 66 shares during the period. Scotia Capital Inc. grew its holdings in shares of Diamondback Energy by 0.3% in the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after acquiring an additional 68 shares during the period. Equitable Trust Co. grew its holdings in shares of Diamondback Energy by 0.7% in the third quarter. Equitable Trust Co. now owns 10,030 shares of the oil and natural gas company’s stock worth $1,435,000 after acquiring an additional 73 shares during the period. Townsend & Associates Inc grew its holdings in shares of Diamondback Energy by 0.5% in the fourth quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock worth $2,161,000 after acquiring an additional 75 shares during the period. Finally, 180 Wealth Advisors LLC grew its holdings in shares of Diamondback Energy by 2.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock worth $410,000 after acquiring an additional 78 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $202.94 on Friday. The firm has a market cap of $57.09 billion, a price-to-earnings ratio of 235.98 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $196.14 and a 200-day moving average price of $173.58. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve 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 analysts’ consensus estimates of $3.74 by $0.49. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.54 earnings per share. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 19.54 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy’s dividend payout ratio is currently 511.63%.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group lifted their price objective on Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Sanford C. Bernstein lifted their price objective on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a report on Wednesday, May 27th. KeyCorp lifted their price objective on Diamondback Energy from $196.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Finally, Scotiabank lifted their price objective on Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $223.26.

Insiders Place Their Bets

In related news, Director Steven E. West sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total value of $1,130,100.00. Following the sale, the director directly owned 4,484 shares in the company, valued at approximately $844,561.40. The trade was a 57.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles Alvin Meloy sold 7,857 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $183.27, for a total value of $1,439,952.39. Following the completion of the sale, the director owned 974,149 shares in the company, valued at $178,532,287.23. This represents a 0.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 86,321 shares of company stock worth $16,386,359. 0.64% of the stock is currently owned by insiders.

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.