Corient Private Wealth LP Makes New $9.61 Million Investment in Diamondback Energy, Inc. $FANG

Corient Private Wealth LP bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the 2nd quarter, Holdings Channel reports. The firm bought 54,655 shares of the oil and natural gas company’s stock, valued at approximately $9,608,000.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Diamondback Energy during the second quarter worth approximately $3,303,362,000. Boston Partners grew its position in Diamondback Energy by 2.9% in the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock valued at $821,649,000 after buying an additional 163,548 shares during the last quarter. Geode Capital Management LLC grew its position in Diamondback Energy by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock valued at $844,073,000 after buying an additional 14,625 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Diamondback Energy by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after buying an additional 532,756 shares during the period. Finally, Capital Research Global Investors increased its stake in Diamondback Energy by 14.1% in the 4th quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after buying an additional 534,073 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

In other Diamondback Energy news, 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 value of $1,406,300.00. Following the completion of the transaction, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles Alvin Meloy sold 33,333 shares of Diamondback Energy stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the sale, the director owned 818,197 shares of the company’s stock, valued at approximately $162,338,466.77. The trade was a 3.91% 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. Over the last 90 days, insiders have sold 124,167 shares of company stock valued at $23,711,609. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FANG shares. Jefferies Financial Group restated a “hold” rating and issued a $205.00 target price on shares of Diamondback Energy in a research note on Sunday, August 9th. Mizuho boosted their price target on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Wolfe Research reissued an “outperform” rating and set a $206.00 price target on shares of Diamondback Energy in a report on Tuesday, August 4th. Barclays reduced their price objective on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Finally, UBS Group lowered their price objective on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.21.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $197.67 on Monday. The stock has a fifty day moving average price of $193.25 and a two-hundred day moving average price of $190.66. The stock has a market capitalization of $55.35 billion, a price-to-earnings ratio of 38.53 and a beta of 0.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $216.90.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.Diamondback Energy’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.38 earnings per share. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy’s payout ratio is currently 85.77%.

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.