Commonwealth Equity Services LLC Trims Stake in Diamondback Energy, Inc. $FANG

Commonwealth Equity Services LLC lowered its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,027 shares of the oil and natural gas company’s stock after selling 3,960 shares during the period. Commonwealth Equity Services LLC’s holdings in Diamondback Energy were worth $6,586,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of FANG. Woodmont Investment Counsel LLC grew its position in Diamondback Energy by 1,123.0% in the second quarter. Woodmont Investment Counsel LLC now owns 43,515 shares of the oil and natural gas company’s stock worth $5,979,000 after acquiring an additional 39,957 shares in the last quarter. NorthRock Partners LLC lifted its stake in Diamondback Energy by 181.6% during the second quarter. NorthRock Partners LLC now owns 3,551 shares of the oil and natural gas company’s stock worth $488,000 after purchasing an additional 2,290 shares during the last quarter. Shell Asset Management Co. boosted its holdings in shares of Diamondback Energy by 22.9% in the 2nd quarter. Shell Asset Management Co. now owns 12,998 shares of the oil and natural gas company’s stock worth $1,786,000 after purchasing an additional 2,423 shares in the last quarter. Vantage Investment Partners LLC increased its position in shares of Diamondback Energy by 4.4% during the 2nd quarter. Vantage Investment Partners LLC now owns 83,184 shares of the oil and natural gas company’s stock valued at $11,429,000 after purchasing an additional 3,476 shares during the last quarter. Finally, Swedbank AB increased its position in shares of Diamondback Energy by 3.9% during the 2nd quarter. Swedbank AB now owns 207,823 shares of the oil and natural gas company’s stock valued at $28,555,000 after purchasing an additional 7,732 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 2.5%

Shares of NASDAQ FANG opened at $151.21 on Wednesday. The firm’s fifty day moving average is $149.69 and its 200 day moving average is $145.09. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $180.91. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. The company has a market cap of $43.31 billion, a price-to-earnings ratio of 10.51 and a beta of 0.59.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the prior year, the company posted $3.19 EPS. The firm’s revenue for the quarter was up 48.4% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. Diamondback Energy’s dividend payout ratio (DPR) is presently 27.80%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the transaction, the director owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. This represents a 26.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FANG. Barclays dropped their target price on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Wall Street Zen lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Piper Sandler reduced their target price on shares of Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Susquehanna decreased their target price on shares of Diamondback Energy to $188.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $173.00 price target on shares of Diamondback Energy in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $188.67.

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.