38,099 Shares in Diamondback Energy, Inc. $FANG Acquired by Barings LLC

Barings LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the first quarter, HoldingsChannel reports. The institutional investor bought 38,099 shares of the oil and natural gas company’s stock, valued at approximately $7,536,000.

A number of other large investors have also recently bought and sold shares of the stock. Cresset Asset Management LLC increased its position in Diamondback Energy by 37.5% during the second quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock worth $649,000 after buying an additional 1,288 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Diamondback Energy during the second quarter valued at $2,301,000. Cerity Partners LLC increased its position in Diamondback Energy by 13.5% during the 2nd quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock worth $7,022,000 after purchasing an additional 6,069 shares in the last quarter. AXA S.A. raised its stake in Diamondback Energy by 8.5% in the 2nd quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock valued at $7,194,000 after purchasing an additional 4,103 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Diamondback Energy by 37.1% in the 2nd quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock valued at $21,239,000 after purchasing an additional 41,866 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a report on Wednesday, May 27th. Zacks Research downgraded shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Roth Capital set a $212.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, June 22nd. Citigroup lifted their target price on shares of Diamondback Energy from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Finally, Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $219.53.

Diamondback Energy Trading Up 0.2%

Shares of FANG stock opened at $190.13 on Friday. The firm has a market cap of $53.49 billion, a P/E ratio of 221.08 and a beta of 0.42. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The firm’s 50-day simple moving average is $191.10 and its 200-day simple moving average is $180.67.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the firm earned $4.54 earnings per share. Diamondback Energy’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 19.21 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a $1.10 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. Diamondback Energy’s dividend payout ratio (DPR) is 511.63%.

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction on 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 directly owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles Alvin Meloy sold 83,334 shares of Diamondback Energy stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total value of $15,593,458.08. Following the completion of the transaction, the director owned 851,530 shares in the company, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 113,691 shares of company stock valued at $21,622,752 over the last quarter. 0.64% of the stock is currently owned by corporate 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.