Corient Private Wealth LP Sells 5,763 Shares of Diamondback Energy, Inc. $FANG

Corient Private Wealth LP lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,656 shares of the oil and natural gas company’s stock after selling 5,763 shares during the period. Corient Private Wealth LP’s holdings in Diamondback Energy were worth $9,608,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FANG. Hsbc Holdings PLC boosted its holdings in Diamondback Energy by 16.3% during the fourth quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company’s stock valued at $50,890,000 after acquiring an additional 47,450 shares during the period. Guinness Asset Management LTD grew its position in shares of Diamondback Energy by 12.0% in the fourth quarter. Guinness Asset Management LTD now owns 54,132 shares of the oil and natural gas company’s stock valued at $8,042,000 after purchasing an additional 5,816 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Diamondback Energy by 1,127.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 26,907 shares of the oil and natural gas company’s stock worth $4,045,000 after purchasing an additional 24,715 shares during the period. Peterson Wealth Services increased its stake in shares of Diamondback Energy by 174.2% in the fourth quarter. Peterson Wealth Services now owns 23,973 shares of the oil and natural gas company’s stock worth $3,604,000 after purchasing an additional 15,229 shares during the period. Finally, National Pension Service lifted its position in shares of Diamondback Energy by 7.7% during the 4th quarter. National Pension Service now owns 381,710 shares of the oil and natural gas company’s stock worth $57,382,000 after purchasing an additional 27,229 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FANG shares. Jefferies Financial Group restated a “hold” rating and set a $205.00 target price on shares of Diamondback Energy in a research note on Sunday, August 9th. Mizuho lifted their price target on Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Raymond James Financial reissued a “strong-buy” rating and issued a $248.00 price objective on shares of Diamondback Energy in a research report on Friday, July 31st. Roth Capital set a $212.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Diamondback Energy from $262.00 to $263.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $222.21.

Diamondback Energy Price Performance

Shares of FANG opened at $197.67 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The company has a 50-day simple moving average of $193.25 and a 200-day simple moving average of $190.66. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $216.90. The firm has a market capitalization of $55.35 billion, a P/E ratio of 38.53 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, topping analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The business had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the business earned $2.38 earnings per share. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were given a $1.10 dividend. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy’s dividend payout ratio (DPR) is currently 85.77%.

Insider Transactions at Diamondback Energy

In other news, Director Charles Alvin Meloy sold 33,333 shares of Diamondback Energy stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the sale, the director owned 818,197 shares of the company’s stock, valued at approximately $162,338,466.77. This trade represents a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the business’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 sale, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 124,167 shares of company stock valued at $23,711,609. 0.64% of the stock is owned by corporate insiders.

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.