Varma Mutual Pension Insurance Co Takes $18.39 Million Position in Diamondback Energy, Inc. $FANG

Varma Mutual Pension Insurance Co bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 104,599 shares of the oil and natural gas company’s stock, valued at approximately $18,386,000.

Other hedge funds have also made changes to their positions in the company. Hsbc Holdings PLC increased its holdings in Diamondback Energy by 16.3% during the 4th quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company’s stock valued at $50,890,000 after purchasing an additional 47,450 shares in the last quarter. Guinness Asset Management LTD boosted its stake in Diamondback Energy by 12.0% in the fourth quarter. Guinness Asset Management LTD now owns 54,132 shares of the oil and natural gas company’s stock worth $8,042,000 after purchasing an additional 5,816 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Diamondback Energy by 1,127.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 26,907 shares of the oil and natural gas company’s stock worth $4,045,000 after purchasing an additional 24,715 shares during the last quarter. Peterson Wealth Services increased its stake in shares of Diamondback Energy by 174.2% in the fourth quarter. Peterson Wealth Services now owns 23,973 shares of the oil and natural gas company’s stock valued at $3,604,000 after buying an additional 15,229 shares in the last quarter. Finally, National Pension Service increased its stake in shares of Diamondback Energy by 7.7% in the fourth quarter. National Pension Service now owns 381,710 shares of the oil and natural gas company’s stock valued at $57,382,000 after buying an additional 27,229 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This represents a 3.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was 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 owned 85,755 shares in the company, valued at $17,228,179.50. This represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 129,167 shares of company stock worth $24,714,309 over the last quarter. 0.64% of the stock is currently owned by insiders.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $210.72 on Friday. The company has a market cap of $59.01 billion, a PE ratio of 41.08 and a beta of 0.43. 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 company’s 50-day moving average is $191.79 and its two-hundred day moving average is $189.22.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, topping the consensus estimate of $6.08 by $0.40. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. Diamondback Energy’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.38 EPS. Equities analysts anticipate that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a $1.10 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. Diamondback Energy’s dividend payout ratio (DPR) is presently 85.77%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Mizuho lifted their price target on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Barclays dropped their target price on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Weiss Ratings raised shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Roth Capital set a $212.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a report on Monday, June 22nd. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $206.00 price objective on shares of Diamondback Energy in a report on Tuesday, August 4th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $222.21.

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.