TD Asset Management Inc Acquires 29,592 Shares of Diamondback Energy, Inc. $FANG

TD Asset Management Inc boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 380,295 shares of the oil and natural gas company’s stock after purchasing an additional 29,592 shares during the quarter. TD Asset Management Inc owned about 0.13% of Diamondback Energy worth $57,170,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Scotia Capital Inc. lifted its position in shares of Diamondback Energy by 0.3% during the 3rd quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after buying an additional 68 shares during the period. Equitable Trust Co. lifted its position in shares of Diamondback Energy by 0.7% during the 3rd quarter. Equitable Trust Co. now owns 10,030 shares of the oil and natural gas company’s stock worth $1,435,000 after buying an additional 73 shares during the period. Townsend & Associates Inc lifted its position in shares of Diamondback Energy by 0.5% during the 4th quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock worth $2,161,000 after buying an additional 75 shares during the period. Fulton Bank N.A. lifted its position in shares of Diamondback Energy by 1.8% during the 4th quarter. Fulton Bank N.A. now owns 4,400 shares of the oil and natural gas company’s stock worth $661,000 after buying an additional 78 shares during the period. Finally, 180 Wealth Advisors LLC lifted its position in shares of Diamondback Energy by 2.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock worth $410,000 after buying an additional 78 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy News Summary

Here are the key news stories impacting Diamondback Energy this week:

• Positive Sentiment: Zacks Research and KeyCorp both lifted several near- and longer-term earnings estimates for Diamondback Energy, suggesting analysts still see solid profit potential ahead. Zacks also reiterated a Hold rating, while KeyCorp kept an Overweight rating and a $225 price target.
• Positive Sentiment: Zacks described Diamondback Energy as a strong momentum stock, which may reinforce bullish sentiment around the name. Zacks momentum stock article
• Neutral Sentiment: One article noted that Diamondback Energy has been trading near highs, but the focus was on market activity rather than a direct company-specific catalyst.
• Negative Sentiment: Financial Post reported that the daughter of late wildcatter Autry Stephens is offloading a $2 billion energy stake, including a Diamondback Energy position. Large insider- or major-holder selling can weigh on sentiment because investors may view it as profit-taking after a strong run. Stephens family stake sale in Diamondback Energy

Diamondback Energy Trading Down 5.1%

FANG stock opened at $192.62 on Friday. The business has a fifty day moving average price of $196.07 and a 200 day moving average price of $173.72. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The stock has a market capitalization of $54.19 billion, a price-to-earnings ratio of 223.98 and a beta of 0.42. 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 released its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $4.54 EPS. Analysts expect that Diamondback Energy, Inc. will post 19.54 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors 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 dividend yield of 2.3%. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy’s payout ratio is presently 511.63%.

Analyst Ratings Changes

FANG has been the subject of several analyst reports. Mizuho raised their target price on Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Morgan Stanley raised their price target on Diamondback Energy from $224.00 to $229.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Wall Street Zen raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Wells Fargo & Company raised their price target on Diamondback Energy from $202.00 to $262.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Finally, Barclays raised their price target on Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $223.26.

Insiders Place Their Bets

In other Diamondback Energy news, Director Steven E. West sold 6,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total transaction of $1,130,100.00. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. Also, CAO Teresa L. Dick sold 7,000 shares of Diamondback Energy stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the transaction, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. This represents a 7.55% 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 have sold 86,321 shares of company stock valued at $16,386,359. Insiders own 0.64% of the company’s stock.

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.