Diamondback Energy, Inc. $FANG Shares Sold by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 39.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,661 shares of the oil and natural gas company’s stock after selling 5,012 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Diamondback Energy were worth $1,515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new position in Diamondback Energy in the fourth quarter worth about $25,000. Richardson Financial Services Inc. grew its holdings in shares of Diamondback Energy by 245.1% during the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $26,000. Cedar Mountain Advisors LLC bought a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $26,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Diamondback Energy in the 3rd quarter worth approximately $26,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of analyst reports. Roth Capital set a $212.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Monday, June 22nd. Citigroup dropped their target price on Diamondback Energy from $245.00 to $221.00 and set a “buy” rating on the stock in a research report on Monday. Mizuho boosted their price target on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Sanford C. Bernstein upped their price target on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Barclays upped their price target on shares of Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $218.68.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the transaction, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This represents a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,691 shares of company stock valued at $21,622,752 over the last three months. 0.64% of the stock is currently owned by company insiders.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $199.80 on Wednesday. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $214.51. The firm has a market capitalization of $56.21 billion, a price-to-earnings ratio of 232.33 and a beta of 0.42. The business has a 50 day simple moving average of $191.25 and a 200 day simple moving average of $181.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results 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. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the previous year, the business earned $4.54 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 18.9 EPS for the current year.

Diamondback Energy Increases Dividend

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

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.