Diamondback Energy, Inc. $FANG Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 85.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,886 shares of the oil and natural gas company’s stock after selling 11,324 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Diamondback Energy were worth $373,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FANG. Deseret Mutual Benefit Administrators lifted its holdings in Diamondback Energy by 31.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock worth $41,000 after buying an additional 66 shares in the last quarter. Scotia Capital Inc. grew its stake in shares of Diamondback Energy by 0.3% in the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after acquiring an additional 68 shares in the last quarter. Townsend & Associates Inc grew its stake in shares of 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 worth $2,161,000 after acquiring an additional 75 shares in the last quarter. Fulton Bank N.A. increased its position in shares of Diamondback Energy by 1.8% during the fourth quarter. Fulton Bank N.A. now owns 4,400 shares of the oil and natural gas company’s stock worth $661,000 after acquiring an additional 78 shares during the period. Finally, 180 Wealth Advisors LLC increased its position in shares of Diamondback Energy by 2.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock worth $410,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction on Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the sale, the executive vice president directly owned 46,392 shares in the company, valued at $9,303,451.68. This trade represents a 9.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at $17,228,179.50. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 121,548 shares of company stock worth $23,146,460 in the last three months. 0.64% of the stock is owned by company insiders.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $182.55 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average price of $194.87 and a 200 day moving average price of $177.57. The company has a market cap of $51.35 billion, a P/E ratio of 212.27 and a beta of 0.42. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $214.51.

Diamondback Energy (NASDAQ:FANG) last posted 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 company had revenue of $4.24 billion for 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%.Diamondback Energy’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $4.54 earnings per share. Sell-side analysts predict that Diamondback Energy, Inc. will post 19.92 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a dividend of $1.10 per share. 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. This represents a $4.40 annualized dividend and a dividend yield of 2.4%. Diamondback Energy’s dividend payout ratio is 511.63%.

Analyst Upgrades and Downgrades

FANG has been the topic of several analyst reports. UBS Group increased their price objective on Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Barclays upped their price target on Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Mizuho boosted their price objective on Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company set a $212.00 price objective on Diamondback Energy in a research report on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $221.37.

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.