3,100 Shares in Diamondback Energy, Inc. $FANG Acquired by Storgate LLC

Storgate LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the fourth quarter, HoldingsChannel reports. The fund purchased 3,100 shares of the oil and natural gas company’s stock, valued at approximately $466,000.

A number of other institutional investors and hedge funds have also modified their holdings of FANG. Smead Capital Management Inc. acquired a new stake in shares of Diamondback Energy in the 2nd quarter worth approximately $144,775,000. Capital Research Global Investors grew its holdings in shares of Diamondback Energy by 38.0% in the 3rd quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company’s stock worth $543,610,000 after acquiring an additional 1,046,398 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Diamondback Energy by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock worth $775,607,000 after purchasing an additional 532,756 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Diamondback Energy by 2,637.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 456,686 shares of the oil and natural gas company’s stock worth $65,352,000 after purchasing an additional 440,005 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Diamondback Energy by 1,127.8% during the 3rd quarter. Two Sigma Investments LP now owns 369,568 shares of the oil and natural gas company’s stock worth $52,885,000 after purchasing an additional 339,468 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other news, Director Steven E. West sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $188.35, for a total transaction of $1,130,100.00. Following the completion of the sale, the director directly owned 4,484 shares of the company’s stock, valued at $844,561.40. The trade was a 57.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the sale, the director directly owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 54,065 shares of company stock worth $10,551,236. 0.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of recent research reports. UBS Group raised their price objective on shares of Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. KeyCorp raised their price objective on shares of Diamondback Energy from $196.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Morgan Stanley raised their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a research note on Wednesday, May 27th. Finally, Zacks Research cut shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $223.63.

Diamondback Energy Stock Up 0.3%

FANG stock opened at $192.13 on Friday. The stock has a market capitalization of $54.05 billion, a P/E ratio of 223.41 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51. The company has a 50 day moving average price of $195.70 and a two-hundred day moving average price of $175.36.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping the consensus estimate of $3.74 by $0.49. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. Diamondback Energy’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.54 EPS. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 19.92 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s dividend payout ratio is presently 511.63%.

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.