PensionDanmark Pensionsforsikringsaktieselskab Boosts Holdings in Diamondback Energy, Inc. $FANG

PensionDanmark Pensionsforsikringsaktieselskab increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 12.8% during the second quarter, HoldingsChannel.com reports. The firm owned 42,180 shares of the oil and natural gas company’s stock after acquiring an additional 4,800 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Diamondback Energy were worth $7,414,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its holdings in Diamondback Energy by 4.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,441,622 shares of the oil and natural gas company’s stock worth $216,719,000 after acquiring an additional 56,194 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Diamondback Energy by 18.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,308 shares of the oil and natural gas company’s stock valued at $20,942,000 after purchasing an additional 21,575 shares during the last quarter. Eagle Global Advisors LLC purchased a new stake in Diamondback Energy during the 4th quarter valued at $5,472,000. Hsbc Holdings PLC increased its holdings in shares of Diamondback Energy by 16.3% in the 4th quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company’s stock worth $50,890,000 after purchasing an additional 47,450 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Diamondback Energy by 16.1% in the 4th quarter. Assetmark Inc. now owns 297,945 shares of the oil and natural gas company’s stock worth $44,790,000 after purchasing an additional 41,307 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

Shares of FANG opened at $188.04 on Friday. The firm has a market cap of $52.90 billion, a PE ratio of 36.65 and a beta of 0.43. The company has a current ratio of 0.47, a quick ratio of 0.55 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $190.39 and a two-hundred day simple moving average of $185.79. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating the consensus estimate of $6.08 by $0.40. The firm had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The company’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 EPS. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 19.73 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. Diamondback Energy’s dividend payout ratio is currently 85.77%.

Analyst Ratings Changes

Several research analysts have recently weighed in on FANG shares. Weiss Ratings upgraded Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $248.00 price objective on shares of Diamondback Energy in a research report on Friday, July 31st. Scotiabank lifted their price objective on Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Citigroup decreased their target price on Diamondback Energy from $245.00 to $221.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Finally, Truist Financial upped their target price on shares of Diamondback Energy from $220.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $220.75.

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 stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. This represents a 9.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 139,167 shares of company stock valued at $26,749,809. Company insiders own 0.64% of the company’s stock.

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.