Diamondback Energy, Inc. $FANG Shares Bought by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,655 shares of the oil and natural gas company’s stock after acquiring an additional 34,991 shares during the period. Westfield Capital Management Co. LP’s holdings in Diamondback Energy were worth $53,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Vise Technologies Inc. boosted its stake in Diamondback Energy by 66.3% in the fourth quarter. Vise Technologies Inc. now owns 8,689 shares of the oil and natural gas company’s stock valued at $1,306,000 after acquiring an additional 3,464 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Diamondback Energy by 5.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 55,945 shares of the oil and natural gas company’s stock valued at $8,410,000 after acquiring an additional 2,805 shares in the last quarter. TD Asset Management Inc boosted its stake in Diamondback Energy by 8.4% in the fourth quarter. TD Asset Management Inc now owns 380,295 shares of the oil and natural gas company’s stock valued at $57,170,000 after acquiring an additional 29,592 shares in the last quarter. Cibc World Market Inc. boosted its stake in Diamondback Energy by 87.9% in the fourth quarter. Cibc World Market Inc. now owns 144,778 shares of the oil and natural gas company’s stock valued at $21,764,000 after acquiring an additional 67,715 shares in the last quarter. Finally, Marietta Investment Partners LLC boosted its stake in Diamondback Energy by 94.1% in the fourth quarter. Marietta Investment Partners LLC now owns 28,302 shares of the oil and natural gas company’s stock valued at $4,255,000 after acquiring an additional 13,724 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $192.62 on Friday. The company has a 50-day simple moving average of $196.07 and a 200-day simple moving average of $173.72. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The stock has a market capitalization of $54.19 billion, a price-to-earnings ratio of 223.98 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same period in the prior year, the company earned $4.54 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Diamondback Energy, Inc. will post 19.54 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a $1.10 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. Diamondback Energy’s dividend payout ratio is currently 511.63%.

Insiders Place Their Bets

In related news, CFO Jere W. Thompson III sold 750 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $182.47, for a total transaction of $136,852.50. Following the completion of the transaction, the chief financial officer directly owned 19,975 shares of the company’s stock, valued at $3,644,838.25. This represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Charles Alvin Meloy sold 7,857 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $189.20, for a total transaction of $1,486,544.40. Following the transaction, the director directly owned 942,721 shares of the company’s stock, valued at $178,362,813.20. This represents a 0.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 86,321 shares of company stock valued at $16,386,359. 0.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FANG has been the subject of several research analyst reports. Piper Sandler upped their price objective on shares of Diamondback Energy from $215.00 to $248.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Truist Financial set a $242.00 price objective on shares of Diamondback Energy in a research note on Wednesday, May 6th. Barclays upped their price objective on shares of Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research note on Wednesday, May 27th. Finally, Benchmark cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $223.26.

Diamondback Energy News Summary

Here are the key news stories impacting Diamondback Energy this week:

• Positive Sentiment: Zacks Research and KeyCorp both lifted several near- and longer-term earnings estimates for Diamondback Energy, suggesting analysts still see solid profit potential ahead. Zacks also reiterated a Hold rating, while KeyCorp kept an Overweight rating and a $225 price target.
• Positive Sentiment: Zacks described Diamondback Energy as a strong momentum stock, which may reinforce bullish sentiment around the name. Zacks momentum stock article
• Neutral Sentiment: One article noted that Diamondback Energy has been trading near highs, but the focus was on market activity rather than a direct company-specific catalyst.
• Negative Sentiment: Financial Post reported that the daughter of late wildcatter Autry Stephens is offloading a $2 billion energy stake, including a Diamondback Energy position. Large insider- or major-holder selling can weigh on sentiment because investors may view it as profit-taking after a strong run. Stephens family stake sale in Diamondback Energy

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.