14,508 Shares in Diamondback Energy, Inc. $FANG Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,508 shares of the oil and natural gas company’s stock, valued at approximately $2,619,000.

Several other hedge funds have also recently added to or reduced their stakes in FANG. BlackRock Inc. acquired a new stake in shares of Diamondback Energy during the 2nd quarter valued at $3,303,362,000. Bank of New York Mellon Corp purchased a new stake in shares of Diamondback Energy during the second quarter valued at $852,791,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $268,855,000. Wellington Management Group LLP boosted its position in shares of Diamondback Energy by 74.1% in the 4th quarter. Wellington Management Group LLP now owns 3,239,837 shares of the oil and natural gas company’s stock valued at $487,045,000 after purchasing an additional 1,379,010 shares during the period. Finally, EnCap Energy Capital Fund XII L.P. purchased a new position in Diamondback Energy in the 4th quarter worth about $169,342,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Mizuho boosted their price target on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Jefferies Financial Group restated a “hold” rating and issued a $205.00 price target on shares of Diamondback Energy in a research report on Sunday, August 9th. Truist Financial raised their price objective on shares of Diamondback Energy from $220.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Wolfe Research reiterated an “outperform” rating and set a $206.00 price objective on shares of Diamondback Energy in a research report on Tuesday, August 4th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $222.21.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, June 1st. The shares were 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 in the company, valued at $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 129,167 shares of company stock worth $24,714,309 in the last ninety days. Insiders own 0.64% of the company’s stock.

Diamondback Energy Trading Down 1.4%

NASDAQ FANG opened at $197.67 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $216.90. The firm’s fifty day simple moving average is $193.25 and its 200-day simple moving average is $190.49. The company has a market capitalization of $55.35 billion, a PE ratio of 38.53 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, topping the consensus estimate of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the firm posted $2.38 EPS. The business’s revenue was up 51.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a $1.10 dividend. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy’s dividend payout ratio is currently 85.77%.

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.