Diamondback Energy, Inc. $FANG Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,626,609 shares of the oil and natural gas company’s stock after selling 15,609 shares during the period. Bank of New York Mellon Corp owned about 1.60% of Diamondback Energy worth $662,068,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in shares of Diamondback Energy by 18.1% during the second quarter. Farther Finance Advisors LLC now owns 1,281 shares of the oil and natural gas company’s stock worth $176,000 after purchasing an additional 196 shares during the period. Signaturefd LLC grew its position in shares of Diamondback Energy by 8.0% during the 2nd quarter. Signaturefd LLC now owns 4,554 shares of the oil and natural gas company’s stock valued at $626,000 after buying an additional 337 shares during the last quarter. Avior Wealth Management LLC raised its stake in Diamondback Energy by 36.5% during the second quarter. Avior Wealth Management LLC now owns 3,233 shares of the oil and natural gas company’s stock worth $444,000 after acquiring an additional 864 shares during the period. GC Wealth Management RIA LLC bought a new position in Diamondback Energy in the second quarter worth about $288,000. Finally, Venture Visionary Partners LLC boosted its stake in Diamondback Energy by 1.4% in the second quarter. Venture Visionary Partners LLC now owns 12,054 shares of the oil and natural gas company’s stock valued at $1,656,000 after acquiring an additional 172 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

Shares of FANG opened at $160.27 on Thursday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $173.01. The stock’s fifty day moving average is $151.46 and its 200-day moving average is $146.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The firm has a market capitalization of $45.90 billion, a price-to-earnings ratio of 11.14 and a beta of 0.59.

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

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, November 13th. Diamondback Energy’s dividend payout ratio (DPR) is currently 27.80%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FANG shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a research report on Monday, December 29th. Scotiabank set a $175.00 target price on Diamondback Energy in a research report on Friday, January 16th. Piper Sandler raised their target price on Diamondback Energy from $215.00 to $218.00 and gave the company an “overweight” rating in a research note on Wednesday. Sanford C. Bernstein lowered their price target on shares of Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Finally, UBS Group increased their price objective on shares of Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $185.90.

Insider Buying and Selling

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 value of $52,382,243.71. Following the completion of the sale, the director directly owned 1,044,864 shares in the company, valued at $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by insiders.

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.