Headlands Technologies LLC Decreases Stake in Diamondback Energy, Inc. $FANG

Headlands Technologies LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 83.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,761 shares of the oil and natural gas company’s stock after selling 14,228 shares during the period. Headlands Technologies LLC’s holdings in Diamondback Energy were worth $485,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Cresset Asset Management LLC increased its position in shares of Diamondback Energy by 37.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock valued at $649,000 after acquiring an additional 1,288 shares during the period. Jump Financial LLC purchased a new position in Diamondback Energy in the 2nd quarter worth $2,301,000. Cerity Partners LLC lifted its position in Diamondback Energy by 13.5% during the 2nd quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock worth $7,022,000 after acquiring an additional 6,069 shares during the period. AXA S.A. lifted its position in Diamondback Energy by 8.5% during the 2nd quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock worth $7,194,000 after acquiring an additional 4,103 shares during the period. Finally, Sei Investments Co. grew its stake in Diamondback Energy by 37.1% during the 2nd quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock valued at $21,239,000 after purchasing an additional 41,866 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group cut their price objective on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Wall Street Zen raised Diamondback Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Seaport Research Partners started coverage on Diamondback Energy in a research report on Thursday. They issued a “neutral” rating on the stock. Weiss Ratings upgraded shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Finally, Morgan Stanley reissued an “equal weight” rating and set a $216.00 price target on shares of Diamondback Energy in a research report on Wednesday, August 19th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $222.21.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $203.42 on Thursday. The stock has a 50-day simple moving average of $194.21 and a two-hundred day simple moving average of $191.41. The firm has a market capitalization of $56.96 billion, a P/E ratio of 39.65 and a beta of 0.43. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $216.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the firm posted $2.38 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities analysts forecast that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued 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 2.2%. Diamondback Energy’s payout ratio is presently 85.77%.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the sale, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This trade represents a 3.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles Alvin Meloy sold 83,334 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the transaction, the director directly owned 851,530 shares of the company’s stock, valued at approximately $159,338,293.60. This trade represents a 8.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 117,167 shares of company stock valued at $22,305,309 over the last three months. 0.64% of the stock is currently owned by corporate insiders.

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.