Diamondback Energy, Inc. $FANG Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 57.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,956 shares of the oil and natural gas company’s stock after purchasing an additional 31,866 shares during the period. Assenagon Asset Management S.A.’s holdings in Diamondback Energy were worth $17,199,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kercheville Advisors LLC purchased a new position in Diamondback Energy in the 1st quarter worth about $791,000. Faithward Advisors LLC lifted its stake in Diamondback Energy by 10.1% during the first quarter. Faithward Advisors LLC now owns 7,899 shares of the oil and natural gas company’s stock valued at $1,562,000 after buying an additional 727 shares in the last quarter. Cidel Asset Management Inc. acquired a new position in shares of Diamondback Energy in the first quarter worth about $268,000. Krilogy Financial LLC boosted its holdings in shares of Diamondback Energy by 12.6% in the first quarter. Krilogy Financial LLC now owns 4,206 shares of the oil and natural gas company’s stock worth $785,000 after buying an additional 471 shares during the period. Finally, Harbour Wealth Management Group Inc. increased its position in shares of Diamondback Energy by 17.1% in the first quarter. Harbour Wealth Management Group Inc. now owns 2,867 shares of the oil and natural gas company’s stock worth $567,000 after acquiring an additional 419 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

NASDAQ FANG opened at $179.91 on Friday. The company has a 50 day simple moving average of $194.75 and a 200-day simple moving average of $177.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The firm has a market capitalization of $50.61 billion, a price-to-earnings ratio of 209.20 and a beta of 0.42. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The firm 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 firm posted $4.54 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that Diamondback Energy, Inc. will post 19.92 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a dividend of $1.10 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.4%. Diamondback Energy’s dividend payout ratio (DPR) is 511.63%.

Insider Activity at Diamondback Energy

In other news, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer directly owned 85,755 shares in the company, valued at $17,228,179.50. The trade was a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles Alvin Meloy sold 83,334 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the transaction, the director directly owned 851,530 shares in the company, valued at $159,338,293.60. This trade represents a 8.91% 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 90 days, insiders sold 121,548 shares of company stock worth $23,146,460. Corporate insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FANG shares. Scotiabank boosted their price target on shares of Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company set a $212.00 price objective on shares of Diamondback Energy in a research note on Monday, June 22nd. Roth Mkm set a $212.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, June 22nd. Truist Financial set a $242.00 target price on Diamondback Energy in a report on Wednesday, May 6th. Finally, Sanford C. Bernstein raised their target price on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $221.37.

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.