ABC Arbitrage SA Invests $1.37 Million in Diamondback Energy, Inc. $FANG

ABC Arbitrage SA acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 9,122 shares of the oil and natural gas company’s stock, valued at approximately $1,371,000.

A number of other hedge funds also recently modified their holdings of the business. Smead Capital Management Inc. purchased a new stake in Diamondback Energy in the 2nd quarter worth about $144,775,000. Capital Research Global Investors boosted its holdings in shares of Diamondback Energy by 38.0% during the third quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company’s stock worth $543,610,000 after purchasing an additional 1,046,398 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Diamondback Energy by 2,637.8% during the third quarter. Balyasny Asset Management L.P. now owns 456,686 shares of the oil and natural gas company’s stock worth $65,352,000 after purchasing an additional 440,005 shares during the period. Two Sigma Investments LP grew its position in Diamondback Energy by 1,127.8% during the third quarter. Two Sigma Investments LP now owns 369,568 shares of the oil and natural gas company’s stock valued at $52,885,000 after purchasing an additional 339,468 shares in the last quarter. Finally, Ninepoint Partners LP purchased a new position in Diamondback Energy during the third quarter valued at approximately $45,076,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 63,957 shares of Diamondback Energy stock in a transaction on Friday, March 6th. The shares were sold at an average price of $181.16, for a total transaction of $11,586,450.12. Following the completion of the sale, the chairman owned 305,314 shares of the company’s stock, valued at approximately $55,310,684.24. The trade was a 17.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven E. West sold 6,000 shares of Diamondback Energy stock in a transaction on 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 of the company’s stock, valued at approximately $844,561.40. This trade represents a 57.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 164,321 shares of company stock valued at $30,054,975. 0.64% of the stock is currently owned by company insiders.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $196.15 on Tuesday. Diamondback Energy, Inc. has a 12-month low of $132.20 and a 12-month high of $214.51. The stock has a 50-day simple moving average of $189.81 and a 200 day simple moving average of $166.35. The stock has a market capitalization of $55.18 billion, a price-to-earnings ratio of 228.08 and a beta of 0.46. 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 (NASDAQ:FANG) last released its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating the consensus estimate of $3.74 by $0.49. The business had revenue of $4.24 billion for 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%. Diamondback Energy’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.54 earnings per share. On average, research analysts anticipate that Diamondback Energy, Inc. will post 18.88 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be paid a $1.10 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. Diamondback Energy’s payout ratio is 488.37%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Roth Mkm reiterated a “neutral” rating and issued a $205.00 target price on shares of Diamondback Energy in a research report on Tuesday, May 5th. Sanford C. Bernstein increased their target price on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research report on Monday. TD Cowen raised shares of Diamondback Energy to a “strong-buy” rating in a report on Monday, February 9th. Truist Financial set a $242.00 target price on Diamondback Energy in a report on Wednesday, May 6th. Finally, Barclays boosted their price objective on shares of Diamondback Energy from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $218.25.

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.