Castleark Management LLC Invests $28.68 Million in Diamondback Energy, Inc. $FANG

Castleark Management LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 145,020 shares of the oil and natural gas company’s stock, valued at approximately $28,684,000. Diamondback Energy makes up 1.0% of Castleark Management LLC’s portfolio, making the stock its 24th biggest position. Castleark Management LLC owned about 0.05% of Diamondback Energy as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Boston Partners grew its holdings in Diamondback Energy by 2.9% in the third quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after purchasing an additional 163,548 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Diamondback Energy by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after purchasing an additional 14,625 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Diamondback Energy by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after purchasing an additional 532,756 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Diamondback Energy by 14.1% during the 4th quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after purchasing an additional 534,073 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Diamondback Energy by 3.2% in the 4th quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company’s stock worth $575,605,000 after purchasing an additional 117,798 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 83,334 shares of the firm’s 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 completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $1,002,700.00. Following the sale, the executive vice president owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 113,691 shares of company stock worth $21,622,752 in the last 90 days. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $204.68 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The business’s 50-day simple moving average is $191.42 and its two-hundred day simple moving average is $182.82. The company has a market cap of $57.58 billion, a PE ratio of 238.00 and a beta of 0.42. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business 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 earned $4.54 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Equities analysts anticipate that Diamondback Energy, Inc. will post 18.9 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a $1.10 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.1%. Diamondback Energy’s dividend payout ratio is currently 511.63%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Barclays boosted their target price on Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. UBS Group decreased their price target on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Scotiabank raised their price target on Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Sanford C. Bernstein boosted their price target on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, Susquehanna upped their price objective on shares of Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $218.68.

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.