King Luther Capital Management Corp Sells 2,960 Shares of Diamondback Energy, Inc. $FANG

King Luther Capital Management Corp decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 158,613 shares of the oil and natural gas company’s stock after selling 2,960 shares during the period. King Luther Capital Management Corp owned approximately 0.06% of Diamondback Energy worth $29,155,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Maryland State Retirement & Pension System boosted its stake in Diamondback Energy by 17.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 12,444 shares of the oil and natural gas company’s stock worth $2,287,000 after purchasing an additional 1,847 shares in the last quarter. Keybank National Association OH grew its position in Diamondback Energy by 6.8% during the 3rd quarter. Keybank National Association OH now owns 19,619 shares of the oil and natural gas company’s stock worth $3,606,000 after purchasing an additional 1,245 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in Diamondback Energy by 2.0% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 4,021 shares of the oil and natural gas company’s stock valued at $739,000 after purchasing an additional 80 shares in the last quarter. New York Life Investment Management LLC increased its stake in Diamondback Energy by 5.1% during the 3rd quarter. New York Life Investment Management LLC now owns 28,434 shares of the oil and natural gas company’s stock valued at $5,226,000 after purchasing an additional 1,370 shares in the last quarter. Finally, Pinion Investment Advisors LLC acquired a new position in Diamondback Energy during the 3rd quarter valued at approximately $214,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Key Stories Impacting Diamondback Energy

Here are a few of the latest stories about FANG:

• Positive Sentiment: Diamondback and KKR agreed to acquire Five Point Infrastructure’s 70% stake in Deep Blue, a produced-water platform serving the Midland Basin. Alongside Diamondback’s existing 30% stake, the deal gives the partners joint ownership of the platform and supports Diamondback’s infrastructure strategy. Diamondback and KKR to acquire Deep Blue
• Positive Sentiment: Diamondback raised its quarterly base dividend by 7.3% to $1.18 per share. The increase signals confidence in cash generation, though the cited coverage advises investors to monitor oil prices. Diamondback dividend increase and oil-price considerations
• Negative Sentiment: Commentary questions whether the stock’s valuation is justified after its strong multiyear run, while oil-price fluctuations remain a risk to earnings and investor returns. Diamondback valuation commentary

Diamondback Energy Stock Performance

FANG opened at $180.98 on Thursday. Diamondback Energy, Inc. has a 12-month low of $139.41 and a 12-month high of $216.90. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $50.52 billion, a PE ratio of 24.76 and a beta of 0.49. The firm has a 50 day moving average of $194.43 and a two-hundred day moving average of $190.34.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 2nd. The oil and natural gas company reported $5.86 EPS for the quarter, beating the consensus estimate of $5.72 by $0.14. Diamondback Energy had a net margin of 11.03% and a return on equity of 11.86%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the prior year, the firm earned $3.08 EPS. The business’s revenue for the quarter was up 38.4% on a year-over-year basis. On average, analysts anticipate that Diamondback Energy, Inc. will post 22.52 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 12th will be issued a dividend of $1.18 per share. The ex-dividend date of this dividend is Thursday, November 12th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.10. This represents a $4.72 dividend on an annualized basis and a dividend yield of 2.6%. Diamondback Energy’s payout ratio is currently 60.19%.

Analyst Ratings Changes

FANG has been the subject of several research reports. Truist Financial lifted their price objective on shares of Diamondback Energy from $224.00 to $232.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Jefferies Financial Group reissued a “hold” rating and issued a $215.00 target price (up from $205.00) on shares of Diamondback Energy in a research report on Sunday, October 11th. Raymond James Financial restated a “strong-buy” rating on shares of Diamondback Energy in a research note on Thursday, September 17th. Sanford C. Bernstein lowered Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $240.00 price target on shares of Diamondback Energy in a research report on Wednesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.39.

Insider Buying and Selling

In other news, Director Charles Meloy sold 33,333 shares of Diamondback Energy stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $183.74, for a total value of $6,124,605.42. Following the sale, the director directly owned 759,864 shares of the company’s stock, valued at $139,617,411.36. The trade was a 4.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis D. Stice sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $204.31, for a total value of $15,323,250.00. Following the sale, the director owned 49,727 shares of the company’s stock, valued at $10,159,723.37. The trade was a 60.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.64% of the stock is owned by corporate insiders.

About Diamondback Energy

Diamondback Energy is an independent oil and natural gas company focused on the development and production of energy resources in the Permian Basin, primarily in West Texas and southeastern New Mexico. Its operations include exploration, drilling and production. The company produces crude oil, natural gas and natural gas liquids. Its activities are concentrated in the Midland and Delaware Basin regions, where it develops oil and gas properties and related reserves. Founded in 2007 and headquartered in Midland, Texas, Diamondback has expanded its Permian Basin operations over time, including through acquisitions.