Intech Investment Management LLC Sells 4,023 Shares of Diamondback Energy, Inc. $FANG

Intech Investment Management LLC lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 34.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,706 shares of the oil and natural gas company’s stock after selling 4,023 shares during the period. Intech Investment Management LLC’s holdings in Diamondback Energy were worth $1,158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Scotia Capital Inc. boosted its holdings in Diamondback Energy by 0.3% in the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after acquiring an additional 68 shares in the last quarter. Equitable Trust Co. boosted its holdings in Diamondback Energy by 0.7% in the third quarter. Equitable Trust Co. now owns 10,030 shares of the oil and natural gas company’s stock worth $1,435,000 after acquiring an additional 73 shares in the last quarter. Townsend & Associates Inc lifted its holdings in shares of Diamondback Energy by 0.5% in the fourth quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock valued at $2,161,000 after purchasing an additional 75 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Diamondback Energy by 2.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock valued at $410,000 after purchasing an additional 78 shares in the last quarter. Finally, Fulton Bank N.A. lifted its holdings in shares of Diamondback Energy by 1.8% in the fourth quarter. Fulton Bank N.A. now owns 4,400 shares of the oil and natural gas company’s stock valued at $661,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $192.62 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The business’s fifty day simple moving average is $196.07 and its 200 day simple moving average is $173.72. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $214.51. The firm has a market capitalization of $54.19 billion, a P/E ratio of 223.98 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period last year, the business posted $4.54 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Diamondback Energy, Inc. will post 19.65 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $1.10 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is 511.63%.

Trending Headlines about Diamondback Energy

Here are the key news stories impacting Diamondback Energy this week:

• Positive Sentiment: Zacks Research and KeyCorp both lifted several near- and longer-term earnings estimates for Diamondback Energy, suggesting analysts still see solid profit potential ahead. Zacks also reiterated a Hold rating, while KeyCorp kept an Overweight rating and a $225 price target.
• Positive Sentiment: Zacks described Diamondback Energy as a strong momentum stock, which may reinforce bullish sentiment around the name. Zacks momentum stock article
• Neutral Sentiment: One article noted that Diamondback Energy has been trading near highs, but the focus was on market activity rather than a direct company-specific catalyst.
• Negative Sentiment: Financial Post reported that the daughter of late wildcatter Autry Stephens is offloading a $2 billion energy stake, including a Diamondback Energy position. Large insider- or major-holder selling can weigh on sentiment because investors may view it as profit-taking after a strong run. Stephens family stake sale in Diamondback Energy

Insiders Place Their Bets

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was 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 of the company’s stock, valued at $9,303,451.68. This trade represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles Alvin Meloy sold 7,857 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $189.20, for a total value of $1,486,544.40. Following the completion of the sale, the director directly owned 942,721 shares of the company’s stock, valued at $178,362,813.20. This represents a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 86,321 shares of company stock valued at $16,386,359. Company insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

FANG has been the topic of a number of recent research reports. Mizuho raised their target price on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a report on Wednesday, May 27th. TD Cowen upgraded Diamondback Energy to a “strong-buy” rating in a report on Monday, February 9th. Truist Financial set a $242.00 target price on Diamondback Energy in a report on Wednesday, May 6th. Finally, Raymond James Financial restated 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 issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $223.26.

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.