Capital World Investors Acquires 32,527 Shares of Diamondback Energy, Inc. $FANG

Capital World Investors grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.0% in the 4th quarter, Holdings Channel reports. The fund owned 1,666,586 shares of the oil and natural gas company’s stock after purchasing an additional 32,527 shares during the quarter. Capital World Investors’ holdings in Diamondback Energy were worth $250,538,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at $25,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at $26,000. Richardson Financial Services Inc. increased its stake in shares of Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after buying an additional 125 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Diamondback Energy in the third quarter valued at $26,000. Finally, Wellington Shields & Co. LLC increased its stake in shares of Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 135 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

Shares of FANG opened at $198.20 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51. The stock has a market cap of $55.76 billion, a P/E ratio of 230.47 and a beta of 0.42. The stock’s 50-day moving average price is $195.99 and its two-hundred day moving average price is $174.25.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the business earned $4.54 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Diamondback Energy, Inc. will post 19.65 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is 511.63%.

Insider Buying and Selling

In other Diamondback Energy news, Director Charles Alvin Meloy sold 7,857 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $189.20, for a total transaction of $1,486,544.40. Following the transaction, the director owned 942,721 shares in the company, valued at approximately $178,362,813.20. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Matt Zmigrosky sold 20,899 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $10,888,740. This trade represents a 25.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 78,464 shares of company stock worth $14,946,406 in the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FANG shares. Piper Sandler raised their target price on Diamondback Energy from $215.00 to $248.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Roth Mkm reiterated a “neutral” rating and issued a $205.00 price objective on shares of Diamondback Energy in a research report on Tuesday, May 5th. Finally, Benchmark lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Four equities 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $223.26.

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.