Commerce Bank Makes New $14.46 Million Investment in Diamondback Energy, Inc. $FANG

Commerce Bank bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 82,247 shares of the oil and natural gas company’s stock, valued at approximately $14,457,000.

Other large investors have also made changes to their positions in the company. Deseret Mutual Benefit Administrators lifted its position in shares of Diamondback Energy by 31.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock valued at $41,000 after acquiring an additional 66 shares in the last quarter. Scotia Capital Inc. grew its position in Diamondback Energy by 0.3% during the 3rd quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after purchasing an additional 68 shares in the last quarter. Capital Financial Group Inc. Co. ADV grew its position in Diamondback Energy by 2.1% during the 1st quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock worth $709,000 after purchasing an additional 75 shares in the last quarter. Physician Wealth Advisors Inc. boosted its position in shares of Diamondback Energy by 40.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 301 shares of the oil and natural gas company’s stock worth $45,000 after buying an additional 86 shares during the period. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of Diamondback Energy by 0.5% during the third quarter. Kestra Private Wealth Services LLC now owns 17,564 shares of the oil and natural gas company’s stock valued at $2,513,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Down 0.1%

Diamondback Energy stock opened at $210.72 on Friday. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $216.90. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The stock has a market cap of $59.01 billion, a P/E ratio of 41.08 and a beta of 0.43. The company’s fifty day simple moving average is $191.79 and its 200-day simple moving average is $189.22.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.08 by $0.40. The business had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.Diamondback Energy’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period last year, the company earned $2.38 earnings per share. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 20.13 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy’s dividend payout ratio is presently 85.77%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Citigroup dropped their price target on Diamondback Energy from $221.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Raymond James Financial restated a “strong-buy” rating and set a $248.00 price objective on shares of Diamondback Energy in a research report on Friday, July 31st. Mizuho lifted their target price on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Sanford C. Bernstein upped their target price on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Barclays reduced their price target on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $222.21.

Insider Transactions at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 33,333 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $198.41, for a total value of $6,613,600.53. Following the completion of the sale, the director owned 818,197 shares of the company’s stock, valued at approximately $162,338,466.77. The trade was a 3.91% decrease in their position. The sale 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 the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the transaction, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. This represents a 9.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 129,167 shares of company stock valued at $24,714,309 over the last 90 days. Company insiders own 0.64% of the company’s stock.

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.