King Luther Capital Management Corp Sells 2,960 Shares of Diamondback Energy, Inc. $FANG

King Luther Capital Management Corp lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.8% in the 3rd quarter, Holdings Channel reports. The fund owned 158,613 shares of the oil and natural gas company’s stock after selling 2,960 shares during the quarter. King Luther Capital Management Corp’s holdings in Diamondback Energy were worth $29,155,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FANG. BlackRock Inc. purchased a new position in Diamondback Energy in the 2nd quarter worth approximately $3,303,362,000. Bank of New York Mellon Corp acquired a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $852,791,000. Wellington Management Group LLP grew its position in shares of Diamondback Energy by 31.3% in the second quarter. Wellington Management Group LLP now owns 16,420,247 shares of the oil and natural gas company’s stock valued at $2,886,351,000 after purchasing an additional 3,918,943 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Diamondback Energy in the second quarter valued at approximately $268,855,000. Finally, Legal & General Group Plc purchased a new stake in shares of Diamondback Energy in the second quarter valued at approximately $176,828,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Top Diamondback Energy Stories

Investors following FANG have been watching these stories:

• Positive Sentiment: UBS raised its price target to $263 from $260 and maintained a Buy rating. The new target implies about 45% upside from the cited share price, potentially supporting investor sentiment. UBS Group recommendations
• Positive Sentiment: Diamondback raised its quarterly base dividend by 7.3% to $1.18 per share. The increase signals confidence in cash generation, though the cited coverage advises investors to monitor oil prices. Diamondback dividend increase and oil-price considerations
• Negative Sentiment: Commentary questions whether the stock’s valuation is justified after its strong multiyear run, while oil-price fluctuations remain a risk to earnings and investor returns. Diamondback valuation commentary

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $180.98 on Thursday. The firm has a 50 day simple moving average of $194.43 and a 200-day simple moving average of $190.34. Diamondback Energy, Inc. has a 1-year low of $139.41 and a 1-year high of $216.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.55 and a quick ratio of 0.54. The stock has a market cap of $50.52 billion, a price-to-earnings ratio of 24.76 and a beta of 0.49.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 2nd. The oil and natural gas company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.72 by $0.14. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $4.60 billion. Diamondback Energy had a net margin of 11.03% and a return on equity of 11.86%. The business’s revenue was up 38.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.08 EPS. On average, analysts expect that Diamondback Energy, Inc. will post 22.52 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 12th will be given a $1.18 dividend. The ex-dividend date is Thursday, November 12th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.10. This represents a $4.72 annualized dividend and a yield of 2.6%. Diamondback Energy’s dividend payout ratio (DPR) is currently 60.19%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Roth Capital increased their price target on Diamondback Energy from $205.00 to $212.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Barclays reduced their price objective on Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. BMO Capital Markets boosted their price objective on Diamondback Energy from $215.00 to $224.00 and gave the stock an “outperform” rating in a research note on Friday, October 2nd. Capital One Financial upped their target price on Diamondback Energy from $272.00 to $283.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Diamondback Energy in a report on Thursday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $228.39.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Charles Meloy sold 33,333 shares of Diamondback Energy stock in a transaction on Monday, October 5th. The stock was sold at an average price of $183.74, for a total value of $6,124,605.42. Following the sale, the director owned 759,864 shares in the company, valued at $139,617,411.36. The trade was a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis D. Stice sold 75,000 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $204.31, for a total value of $15,323,250.00. Following the completion of the transaction, the director directly owned 49,727 shares in the company, valued at approximately $10,159,723.37. This trade represents a 60.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy is an independent oil and natural gas company focused on the development and production of energy resources in the Permian Basin, primarily in West Texas and southeastern New Mexico. Its operations include exploration, drilling and production. The company produces crude oil, natural gas and natural gas liquids. Its activities are concentrated in the Midland and Delaware Basin regions, where it develops oil and gas properties and related reserves. Founded in 2007 and headquartered in Midland, Texas, Diamondback has expanded its Permian Basin operations over time, including through acquisitions.