Swedbank AB Reduces Holdings in Diamondback Energy, Inc. $FANG

Swedbank AB decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 202,735 shares of the oil and natural gas company’s stock after selling 6,760 shares during the quarter. Swedbank AB’s holdings in Diamondback Energy were worth $30,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. boosted its holdings in shares of Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after buying an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new position in shares of Diamondback Energy in the third quarter worth approximately $26,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Diamondback Energy by 106.3% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FANG. Roth Mkm reissued a “neutral” rating and issued a $205.00 price objective on shares of Diamondback Energy in a report on Tuesday. Wells Fargo & Company lifted their price target on shares of Diamondback Energy from $202.00 to $262.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Freedom Capital raised shares of Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. TD Cowen raised shares of Diamondback Energy to a “strong-buy” rating in a report on Monday, February 9th. Finally, Morgan Stanley lifted their price target on shares of Diamondback Energy from $220.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $215.70.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $190.30 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.40. Diamondback Energy, Inc. has a 1-year low of $130.48 and a 1-year high of $214.51. The company has a market capitalization of $53.53 billion, a P/E ratio of 221.28 and a beta of 0.46. The firm’s 50 day simple moving average is $188.80 and its two-hundred day simple moving average is $165.63.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.74 by $0.49. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.54 earnings per share. Research analysts expect that Diamondback Energy, Inc. will post 18.86 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be given a dividend of $1.10 per share. The ex-dividend date is Thursday, May 14th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. Diamondback Energy’s dividend payout ratio (DPR) is 488.37%.

Insider Activity

In other news, EVP Matt Zmigrosky sold 4,101 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $190.51, for a total transaction of $781,281.51. Following the sale, the executive vice president owned 56,392 shares in the company, valued at $10,743,239.92. This trade represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven E. West sold 6,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $188.35, for a total transaction of $1,130,100.00. Following the sale, the director owned 4,484 shares in the company, valued at approximately $844,561.40. The trade was a 57.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 156,464 shares of company stock valued at $28,568,431. Company insiders own 0.64% of the company’s stock.

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.