Sei Investments Co. Acquires 9,867 Shares of Diamondback Energy, Inc. $FANG

Sei Investments Co. boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,846 shares of the oil and natural gas company’s stock after buying an additional 9,867 shares during the quarter. Sei Investments Co.’s holdings in Diamondback Energy were worth $27,858,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FANG. State of Wyoming increased its holdings in shares of Diamondback Energy by 327.1% in the 1st quarter. State of Wyoming now owns 1,072 shares of the oil and natural gas company’s stock valued at $212,000 after acquiring an additional 821 shares during the period. Cetera Investment Advisers lifted its stake in shares of Diamondback Energy by 2.3% during the 1st quarter. Cetera Investment Advisers now owns 72,436 shares of the oil and natural gas company’s stock worth $14,327,000 after purchasing an additional 1,655 shares during the last quarter. NewEdge Wealth LLC lifted its stake in shares of Diamondback Energy by 69.2% during the 1st quarter. NewEdge Wealth LLC now owns 4,600 shares of the oil and natural gas company’s stock worth $910,000 after purchasing an additional 1,881 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Diamondback Energy by 61.3% during the 1st quarter. First Trust Advisors LP now owns 692,625 shares of the oil and natural gas company’s stock worth $136,994,000 after purchasing an additional 263,151 shares during the last quarter. Finally, Himension Capital Singapore PTE. LTD. bought a new stake in Diamondback Energy during the first quarter valued at about $99,000. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on FANG. Zacks Research lowered Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. KeyCorp increased their price target on shares of Diamondback Energy from $196.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Truist Financial lowered their price target on shares of Diamondback Energy from $242.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Susquehanna lifted their price objective on shares of Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a research report on Tuesday, July 21st. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $249.00 price objective on shares of Diamondback Energy in a research note on Wednesday, June 10th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $218.68.

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 7,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer directly owned 85,755 shares in the company, valued at $17,228,179.50. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Alvin Meloy sold 83,334 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 851,530 shares in the company, valued at approximately $159,338,293.60. This represents a 8.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 113,691 shares of company stock worth $21,622,752. 0.64% of the stock is owned by insiders.

Diamondback Energy Stock Down 4.3%

Shares of FANG stock opened at $195.80 on Tuesday. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51. The stock’s fifty day moving average price is $191.22 and its 200 day moving average price is $183.18. 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 company has a market cap of $55.08 billion, a price-to-earnings ratio of 227.68 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results 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. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the company posted $4.54 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts expect that Diamondback Energy, Inc. will post 18.9 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s dividend payout ratio is currently 511.63%.

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.