Tobam Purchases 6,408 Shares of Diamondback Energy, Inc. $FANG

Tobam grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 3,426.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,595 shares of the oil and natural gas company’s stock after acquiring an additional 6,408 shares during the period. Tobam’s holdings in Diamondback Energy were worth $991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FANG. Boston Partners lifted its stake in Diamondback Energy by 2.9% in the 3rd 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 in the last quarter. Geode Capital Management LLC raised its stake in 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 valued at $844,073,000 after purchasing an additional 14,625 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Diamondback Energy by 11.5% during the fourth 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 grew its stake in shares of Diamondback Energy by 14.1% in the 4th quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock worth $651,363,000 after buying an additional 534,073 shares in the last quarter. Finally, Morgan Stanley increased its holdings 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 buying an additional 117,798 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other news, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the transaction, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 121,548 shares of company stock valued at $23,146,460 in the last 90 days. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on FANG. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Morgan Stanley boosted their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Benchmark cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Wells Fargo & Company raised their price target on shares of Diamondback Energy from $202.00 to $262.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Finally, KeyCorp lifted their price objective on shares of Diamondback Energy from $196.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Four research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $223.63.

Diamondback Energy Price Performance

Shares of FANG stock opened at $183.50 on Friday. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51. The stock has a market capitalization of $51.62 billion, a price-to-earnings ratio of 213.37 and a beta of 0.42. The stock has a fifty day simple moving average of $195.03 and a two-hundred day simple moving average of $176.66. 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 (NASDAQ:FANG) last posted its quarterly 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. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.54 EPS. On average, analysts predict that Diamondback Energy, Inc. will post 19.92 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.4%. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy’s payout ratio is currently 511.63%.

Diamondback Energy 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.