Diamondback Energy, Inc. $FANG Stock Holdings Trimmed by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,289,876 shares of the oil and natural gas company’s stock after selling 56,013 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Diamondback Energy were worth $452,938,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners lifted its position in shares of Diamondback Energy by 2.9% during 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 acquiring an additional 163,548 shares during the last quarter. Geode Capital Management LLC grew its stake in Diamondback Energy by 0.3% during 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 acquiring an additional 14,625 shares in 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. 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. Finally, Morgan Stanley lifted its position in Diamondback Energy by 3.2% in the 4th quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company’s stock worth $575,605,000 after buying an additional 117,798 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $249.00 price target on shares of Diamondback Energy in a research note on Wednesday, June 10th. Truist Financial reduced their price objective on Diamondback Energy from $242.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley dropped their target price on Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Scotiabank raised their price target on Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Four research 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 company. According to MarketBeat, Diamondback Energy presently has an average rating of “Buy” and an average price target of $218.26.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 7,000 shares of the firm’s 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 in the company, valued at $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the sale, the executive vice president directly owned 46,392 shares in the company, valued at approximately $9,303,451.68. This represents a 9.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 113,691 shares of company stock valued at $21,622,752. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Down 0.1%

FANG stock opened at $195.38 on Tuesday. The stock has a market capitalization of $54.96 billion, a price-to-earnings ratio of 227.19 and a beta of 0.42. The company has a 50-day moving average of $191.22 and a two-hundred day moving average of $181.32. 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, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping 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 the consensus estimate of $3.83 billion. During the same period in the previous year, the business posted $4.54 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 19.14 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a dividend of $1.10 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s dividend payout ratio is presently 511.63%.

About Diamondback Energy

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.