TD Asset Management Inc Acquires 29,592 Shares of Diamondback Energy, Inc. $FANG

TD Asset Management Inc boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 380,295 shares of the oil and natural gas company’s stock after purchasing an additional 29,592 shares during the period. TD Asset Management Inc’s holdings in Diamondback Energy were worth $57,170,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Scotia Capital Inc. lifted its holdings in shares of 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 valued at $2,822,000 after purchasing an additional 68 shares in the last quarter. Equitable Trust Co. raised its holdings in Diamondback Energy by 0.7% during 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 raised its holdings in Diamondback Energy by 0.5% during the fourth quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock worth $2,161,000 after acquiring an additional 75 shares in the last quarter. Fulton Bank N.A. raised its holdings in Diamondback Energy by 1.8% during the fourth quarter. Fulton Bank N.A. now owns 4,400 shares of the oil and natural gas company’s stock worth $661,000 after acquiring an additional 78 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in Diamondback Energy by 2.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock worth $410,000 after acquiring an additional 78 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $192.62 on Friday. The business’s 50 day moving average price is $196.07 and its two-hundred day moving average price is $173.72. The company has a market cap of $54.19 billion, a PE ratio of 223.98 and a beta of 0.42. 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 twelve month low of $134.30 and a twelve month high of $214.51.

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

Diamondback Energy Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on FANG shares. Mizuho upped their target price on Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Citigroup upped their target price on Diamondback Energy from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Barclays upped their target price on Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Freedom Capital upgraded Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Truist Financial set a $242.00 target price on Diamondback Energy in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $223.26.

More Diamondback Energy News

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

Insider Transactions at Diamondback Energy

In other news, EVP Matt Zmigrosky sold 20,899 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $180.00, for a total value of $3,761,820.00. Following the transaction, the executive vice president owned 60,493 shares of the company’s stock, valued at approximately $10,888,740. This represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Teresa L. Dick sold 7,000 shares of the company’s 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 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 SEC filing for this sale provides additional information. Insiders sold a total of 86,321 shares of company stock worth $16,386,359 over the last three months. Company insiders own 0.64% of the company’s stock.

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.