Diamondback Energy, Inc. $FANG Stock Holdings Lifted by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,621,120 shares of the oil and natural gas company’s stock after buying an additional 14,625 shares during the period. Geode Capital Management LLC’s holdings in Diamondback Energy were worth $844,073,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Diamondback Energy by 9.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,733 shares of the oil and natural gas company’s stock worth $16,848,000 after purchasing an additional 10,289 shares in the last quarter. Moloney Securities Asset Management LLC purchased a new position in Diamondback Energy in the 3rd quarter worth about $472,000. Assetmark Inc. increased its stake in Diamondback Energy by 2.4% in the 3rd quarter. Assetmark Inc. now owns 256,638 shares of the oil and natural gas company’s stock worth $36,725,000 after purchasing an additional 5,936 shares in the last quarter. National Pension Service increased its stake in Diamondback Energy by 4.8% in the 3rd quarter. National Pension Service now owns 354,481 shares of the oil and natural gas company’s stock worth $50,726,000 after purchasing an additional 16,350 shares in the last quarter. Finally, Smead Capital Management Inc. increased its stake in Diamondback Energy by 24.6% in the 3rd quarter. Smead Capital Management Inc. now owns 1,312,413 shares of the oil and natural gas company’s stock worth $187,806,000 after purchasing an additional 258,738 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In other news, CAO Teresa L. Dick sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $207.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the chief accounting officer owned 92,755 shares in the company, valued at approximately $19,200,285. This represents a 5.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $200.10, for a total value of $1,000,500.00. Following the sale, the executive vice president owned 51,392 shares of the company’s stock, valued at approximately $10,283,539.20. This trade represents a 8.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 174,321 shares of company stock valued at $32,090,475. 0.64% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FANG shares. Benchmark cut Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. Barclays raised their price objective on shares of Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group raised their price objective on shares of Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Susquehanna raised their price objective on shares of Diamondback Energy from $231.00 to $245.00 and gave the stock a “positive” rating in a research note on Wednesday, May 6th. Finally, Truist Financial set a $242.00 price objective on shares of Diamondback Energy in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Buy” and a consensus target price of $223.26.

Diamondback Energy Stock Down 1.4%

Shares of Diamondback Energy stock opened at $191.48 on Friday. The stock has a 50-day moving average price of $195.28 and a 200 day moving average price of $171.79. The company has a market cap of $53.87 billion, a P/E ratio of 222.65 and a beta of 0.46. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 1 year low of $133.75 and a 1 year 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, beating the consensus estimate of $3.74 by $0.49. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.54 EPS. As a group, analysts expect that Diamondback Energy, Inc. will post 19.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s payout ratio is currently 511.63%.

About Diamondback Energy

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.