Systematic Financial Management LP Lowers Stake in Diamondback Energy, Inc. $FANG

Systematic Financial Management LP cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 19.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,436 shares of the oil and natural gas company’s stock after selling 4,630 shares during the quarter. Systematic Financial Management LP’s holdings in Diamondback Energy were worth $3,844,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sei Investments Co. raised its holdings in Diamondback Energy by 7.5% in the 1st quarter. Sei Investments Co. now owns 140,846 shares of the oil and natural gas company’s stock valued at $27,858,000 after acquiring an additional 9,867 shares during the last quarter. State of Wyoming lifted its stake in shares of Diamondback Energy by 327.1% during the 1st quarter. State of Wyoming now owns 1,072 shares of the oil and natural gas company’s stock worth $212,000 after purchasing an additional 821 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Diamondback Energy by 2.3% during the first quarter. Cetera Investment Advisers now owns 72,436 shares of the oil and natural gas company’s stock worth $14,327,000 after purchasing an additional 1,655 shares during the last quarter. NewEdge Wealth LLC boosted its holdings in shares of Diamondback Energy by 69.2% during the first quarter. NewEdge Wealth LLC now owns 4,600 shares of the oil and natural gas company’s stock worth $910,000 after purchasing an additional 1,881 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Diamondback Energy by 61.3% during the first quarter. First Trust Advisors LP now owns 692,625 shares of the oil and natural gas company’s stock worth $136,994,000 after purchasing an additional 263,151 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the sale, the director directly owned 13,437 shares in the company, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles Alvin Meloy sold 83,334 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the transaction, the director directly owned 851,530 shares in the company, valued at $159,338,293.60. This trade represents a 8.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 113,691 shares of company stock worth $21,622,752 in the last ninety days. 0.64% of the stock is owned by corporate insiders.

Diamondback Energy Stock Down 0.4%

Shares of Diamondback Energy stock opened at $204.68 on Friday. The company has a fifty day moving average price of $191.42 and a 200 day moving average price of $182.57. 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 twelve month low of $134.30 and a twelve month high of $214.51. The stock has a market cap of $57.58 billion, a price-to-earnings ratio of 238.00 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data 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. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the company posted $4.54 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Diamondback Energy, Inc. will post 18.9 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 $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s payout ratio is 511.63%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FANG. Sanford C. Bernstein increased their target price on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Mizuho lifted their price target on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Morgan Stanley dropped their price objective on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Raymond James Financial reiterated a “strong-buy” rating and set a $249.00 price objective on shares of Diamondback Energy in a report on Wednesday, June 10th. Finally, Weiss Ratings cut shares of Diamondback Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Buy” and a consensus price target of $218.68.

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.