Capital International Sarl Buys New Stake in Diamondback Energy, Inc. $FANG

Capital International Sarl bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, Holdings Channel reports. The fund bought 5,666 shares of the oil and natural gas company’s stock, valued at approximately $852,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Deseret Mutual Benefit Administrators lifted its position in Diamondback Energy by 31.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock valued at $41,000 after purchasing an additional 66 shares during the period. Scotia Capital Inc. lifted its position in Diamondback Energy by 0.3% during the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock valued at $2,822,000 after purchasing an additional 68 shares during the period. Equitable Trust Co. lifted its position in Diamondback Energy by 0.7% during the third quarter. Equitable Trust Co. now owns 10,030 shares of the oil and natural gas company’s stock valued at $1,435,000 after purchasing an additional 73 shares during the period. Townsend & Associates Inc increased its holdings in 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 valued at $2,161,000 after buying an additional 75 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its holdings in 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 valued at $410,000 after buying an additional 78 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FANG has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $242.00 price objective on shares of Diamondback Energy in a report on Monday, April 27th. Piper Sandler lifted their price objective on shares of Diamondback Energy from $215.00 to $248.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Freedom Capital raised shares of Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Wall Street Zen raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $223.26.

Diamondback Energy Stock Up 2.9%

FANG stock opened at $198.20 on Tuesday. The stock has a market capitalization of $55.76 billion, a P/E ratio of 230.47 and a beta of 0.42. The firm has a 50-day simple moving average of $195.99 and a 200-day simple moving average of $174.25. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $214.51.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.54 earnings per share. Equities analysts forecast that Diamondback Energy, Inc. will post 19.65 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

Insider Buying and Selling at Diamondback Energy

In other news, CFO Jere W. Thompson III sold 750 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $182.47, for a total transaction of $136,852.50. Following the completion of the sale, the chief financial officer owned 19,975 shares of the company’s stock, valued at $3,644,838.25. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Alvin Meloy sold 7,857 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $189.20, for a total transaction of $1,486,544.40. Following the sale, the director directly owned 942,721 shares of the company’s stock, valued at $178,362,813.20. This represents a 0.83% 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. Over the last ninety days, insiders have sold 78,464 shares of company stock valued at $14,946,406. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy 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.