Eurizon Capital SGR S.p.A. Makes New Investment in Diamondback Energy, Inc. $FANG

Eurizon Capital SGR S.p.A. purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, HoldingsChannel reports. The firm purchased 25,240 shares of the oil and natural gas company’s stock, valued at approximately $3,794,000.

A number of other hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth $25,000. Richardson Financial Services Inc. lifted 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 in the last quarter. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth $26,000. JPL Wealth Management LLC purchased a new position in shares of Diamondback Energy in the third quarter worth $26,000. Finally, Wellington Shields & Co. LLC lifted its holdings in shares of Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 135 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $199.03 on Tuesday. The company has a market cap of $55.99 billion, a price-to-earnings ratio of 231.43 and a beta of 0.42. The firm’s fifty day moving average is $195.45 and its 200 day moving average is $172.34. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. Diamondback Energy’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.54 earnings per share. Sell-side analysts forecast that Diamondback Energy, Inc. will post 19.54 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 511.63%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 63,957 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $181.16, for a total transaction of $11,586,450.12. Following the transaction, the chairman owned 305,314 shares in the company, valued at $55,310,684.24. The trade was a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Matt Zmigrosky sold 20,899 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $180.00, for a total transaction of $3,761,820.00. Following the transaction, the executive vice president owned 60,493 shares in the company, valued at $10,888,740. This trade represents a 25.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 174,321 shares of company stock valued at $32,090,475. Insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FANG shares. TD Cowen raised shares of Diamondback Energy to a “strong-buy” rating in a report on Monday, February 9th. Mizuho boosted their target price on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Piper Sandler boosted their target price on shares of Diamondback Energy from $215.00 to $248.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Zacks Research downgraded shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $242.00 target price on shares of Diamondback Energy in a report on Monday, April 27th. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.26.

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.